US Treasury Secretary Bessent dismisses concerns over government debt and inflation

US Treasury Secretary Scott Bessent commented on Moody's decision to downgrade the country's credit rating. He criticized the agency, claiming that it based its decision on old data that does not reflect the current situation.

Bessent blamed the previous Biden administration for the high national debt. He said the accumulated problems cannot be fixed in a short period of time. As a solution, Bessent presented a plan to reduce federal spending, which he believes can ensure sustainable economic growth.

Regarding the impact of trade duties, Bessent reported on the agreement reached with Walmart, the largest retailer. The company agreed to partially absorb the additional costs caused by the tariffs. This decision will prevent sharp price increases for customers. This measure is supported by a general decline in inflation, which decreased for the first time in four years. The main reason for this was the slowdown in price growth for services.