Moodys downgraded US credit rating
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White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.
Moody's downgrade of the U.S. sovereign credit rating late Friday appeared to have a modest impact on corporate bond market activity on Monday, as spreads widened slightly and new bond sales started the week softer than expected.
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.
Moody’s downgrades the U.S. credit rating for the first time since 1919, citing rising debt. Crypto markets react with Bitcoin and Ethereum slipping as investors weigh broader economic risks.
Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating. Spot gold rose 1% to $3,234.70 an ounce by 1050 ET (1450 GMT).
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Moody's eliminates the US from countries with a perfect rating (AAA)Moody’s Ratings has stripped the United States of its last perfect credit rating, downgrading its debt from AAA to Aa1. This historic move could unsettle financial markets and lead to higher interest rates.
While the markets may not like any rating downgrade, Wall Street is unlikely to register any deep cuts. However, it’s not an ideal situation for global investors who were keen to invest in the country’s securities.
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