Bessent Brushes Off Moody's Downgrade Concerns

Treasury Secretary Scott Bessent downplayed Moody's downgrade of the U.S. credit rating, asserting the Trump administration's focus on economic growth and recent Middle East investment commitments would offset concerns. He expressed skepticism about the downgrade during an interview on CNN's 'State of the Union.'

Treasury Secretary Scott Bessent on Sunday downplayed Moody's decision to downgrade the U.S. sovereign credit rating. Bessent dismissed the downgrade, suggesting that the Trump administration's strategy would ensure that U.S. economic growth would outpace rising debt levels.

Speaking on CNN's 'State of the Union' program, Bessent emphasized the administration's efforts to bolster economic growth, particularly through new investment commitments from the Middle East.

'I don't put much credence in the Moody's downgrade,' Bessent stated, affirming his belief that investment inflows and strategic economic policies would address credit concerns.

(With inputs from agencies.)