'Lagging indicator': US treasury secretary blames Biden-era spending for Moody’s credit downgrade

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Times of India 7h ago

'Lagging indicator': US treasury secretary blames Biden-era spending for Moody’s credit downgrade - Times of India

Quick Summary:

International Business News: NEW DELHI: US Treasury Secretary Scott Bessent on Sunday dismissed Moody’s decision to downgrade the country’s credit rating, calling it "a lagging in.

Moody’s announcement on Friday, however, pointed to broader concerns, including a sustained rise in federal debt levels spanning multiple administrations.

The plan faced opposition from Republican fiscal conservatives, who blocked its advancement, casting doubt on the bill’s future in the House of Representatives.