Business
Biden officials reject Moody’s shift to ‘negative’ outlook, point to Republican ‘dysfunction’
WASHINGTON: Top Biden administration officials on Friday rejected a decision by Moody’s ratings agency to downgrade its US economic outlook to negative from stable, calling the shift a reflection of what they called “extremism and dysfunction” among congressional Republicans.
“While the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook.TheAmerican economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset,” Deputy Treasury Secretary Wally Adeyemo said in a statement.
White House spokesperson Karine Jean-Pierre said the change was “yet another consequence of congressional Republican extremism and dysfunction.”
“While the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook.TheAmerican economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset,” Deputy Treasury Secretary Wally Adeyemo said in a statement.
White House spokesperson Karine Jean-Pierre said the change was “yet another consequence of congressional Republican extremism and dysfunction.”
