Moody’s downgraded the US’s credit rating on May 16, citing rising debt levels and political gridlock affecting fiscal policy. Up to now, the US had been rated Aaa by Moody’s going back to 1917.
“Moody’s is a lagging indicator – that’s what everyone thinks of credit agencies,” Scott Bessent told Meet the Press on Sunday after the last of the big three credit rating agencies stripped the US of its triple-A rating.
