White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.
“Make no mistake, the US debt is the safest bet on Earth. There’s no country that I’d rather have than the United States and so Moody’s can do what it wants to,” Hassett said in an interview Monday morning on Fox Business Network.
Hassett’s comments follow the decision by the credit rater late Friday to downgrade the US to Aa1 from Aaa, raising doubts about the nation’s status as the world’s highest-quality sovereign borrower and highlighting Wall Street’s worries about the nation’s fiscal health.
Dean Curnutt, Founder and CEO of Macro Risk Advisors, discusses the implications of the US debt downgrade for investors. Dean speaks with Tom Keene and Paul Sweeney on Bloomberg Radio. (Source: Bloomberg)
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