Hassett refutes Moody's downgrade of US rating, calls US debt the "safest investment"

Odaily News Hassett, director of the National Economic Council, criticized Moody's decision to downgrade the U.S. credit rating, calling the move an outdated view and saying the Trump administration is committed to reducing federal spending.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 the planet. There is no country's (bonds) that I would rather hold than U.S. bonds, so Moody's can do whatever it wants." Hassett added: "This is a retrospective approach that is punishing our Biden administration for its 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 how I evaluate it." (Jin Shi)