BlockBeats News, May 19, National Economic Council Director Hassett criticized Moody's decision to downgrade the U.S. credit rating, calling it an outdated view and stating that the Trump administration is committed to reducing federal spending.
Hassett said: "There is no doubt that U.S. Treasury bonds are the safest investment on Earth. There is no (bond) from any country that I would rather hold than U.S. bonds, so Moody's can do whatever they want." Hassett added: "This is a backward-looking approach, punishing us for the Biden administration's reckless spending."
Hassett also said: "We are cutting spending, we are easing regulations. We have supply-side growth, so we have every reason to believe that we will have the best economy in the world. If you have the best economy in the world, you will also have the best debt in the world. That's my take on it." (FX678)
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