White House Communications Director Steven Cheung pushed back against the recent downgrade of the U.S. credit rating by Moody’s, taking direct aim at the company’s Chief Economist, Mark Zandi. In a post on X, Cheung dismissed Zandi’s credibility, stating, “Nobody takes his ‘analysis’ seriously. He has been proven wrong time and time again.”
On Friday, Moody’s announced it had lowered the United States’ credit score, moving it from Aaa to Aa1. The agency also shifted its outlook from negative to stable, which caught the attention of many observers.
Cheung accused Moody’s move of being both predictable and politically motivated. He pointed out Zandi’s long-standing political affiliations, saying Zandi “is an Obama advisor and Clinton donor who has been a ‘Never Trumper’ since 2016.”
White House spokesman Kush Desai echoed those sentiments and questioned the timing and validity of Moody’s decision. “If Moody’s had any credibility, they would not have stayed silent as the fiscal disaster of the past four years unfolded,” Desai said.
According to NBC, Desai went on to explain that the administration is taking steps to reverse harmful trends. “The Trump administration and Republicans are focused on fixing Biden’s mess by slashing the waste, fraud, and abuse in government and passing The One, Big, Beautiful Bill to get our house back in order.”
Despite the political tension, Moody’s official website defends its approach, describing its sovereign credit ratings as an “objective, independent, and non-partisan analysis of decades of fiscal activity.”
These credit ratings are important tools for evaluating how likely a borrower—like a national government—is to default on its debt.
{Matzav.com}