Bessent Says He Doesn’t ‘Put Much Credence’ in Moody’s Downgrade

Treasury secretary said that growing the economy faster is more important than ’the potential growth of the debt.’

U.S. Treasury Secretary Scott Bessent speaks during a news conference in Geneva on May 12, 2025. Fabrice Coffrini/AFP via Getty Images

Treasury Secretary Scott Bessent said on May 18 that he is not worried about Moody’s recent downgrade of the United States’ Aaa credit rating to Aa1, and defended President Donald Trump’s tariffs and his sweeping tax cut bill.

Speaking on CNN’s “State of the Union with Jake Tapper” on May 18, Bessent said Trump’s bill, which would extend the 2017 tax cuts under the president’s first term, would surge a level of economic growth.