Bessent Calls Moody’s ‘Lagging Indicator’ of US Fiscal Health

Treasury Secretary Scott Bessent downplayed concerns over the US’s government debt and the inflationary impact of tariffs on companies including Walmart Inc., saying the Trump administration is determined to lower federal spending and grow the economy.

Asked about the Moody’s Ratings downgrade of the country’s credit rating Friday during an interview on NBC’s Meet the Press with Kristen Welker, Bessent said, “Moody’s is a lagging indicator — that’s what everyone thinks of credit agencies.”

“We didn’t get here in the past 100 days,” he said Sunday. “It’s the Biden administration and the spending that we have seen over the ...