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Treasury Secretary Scott Bessent Dismisses Moody’s Downgrade With Bizarre Who Cares Remark
At the beginning of the week, one controversial statement issued by Treasury Secretary Scott Bessent relevant to the recent downgrade of...
X/@SpencerHakimian At the beginning of the week, one controversial statement issued by Treasury Secretary Scott Bessent relevant to the recent downgrade of the United States’ credit rating by Moody’s. The ex-hedge fund manager built his reputation on the basis of financial expertise; what makes an occasion dreadful is that his seeming frivolousness about the rudimentary mechanics of credit markets therefore becomes an unforgivable omen for his former industry colleagues. A view by Steve Alimonti simply says “It might play well with Trump supporters, but Bessent’s cavalier attitude risks alienating the wider investor community that keeps the Treasury market humming.”
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