Bessent on Moody’s Downgrade of U.S. Credit: By the Time They Get There, Everything‘s Already in the Market

RUSH EXCERPT:
BESSENT: "Well, Jake, first of all, the history of rating agencies, by the time they get to a downgrade, everything‘s already in the market. Larry Summers and I don‘t agree on everything, but in 2011, the last. Time or two times ago when we had a downgrade, he he pooh poohed it. You know, what I think is important is that President Trump has just come back from this historic mideast trip, and there‘s trillions of dollars coming into the U.S. so we are seeing confidence from investors. So I don‘t put much credence in the moody‘s."