On May 19, the Director of the National Economic Council, Hassett, criticized Moody's decision to downgrade the US credit rating, calling it an outdated view and stating that the Trump administration is committed to reducing federal spending.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 US government debt is the safest investment on the planet. There is no country's (bonds) that I would rather hold than US bonds, so Moody's can do whatever they want." Hassett added: "This is a backward-looking approach that is punishing the Biden administration's reckless spending."
Hassett also stated: "We are cutting expenses, we are relaxing regulations. We have supply-side growth, so we have every reason to believe that we will have the world's best economy. If you have the world's best economy, you will also have the world's best debt. That is my assessment of it."
