The U.S. Treasury Secretary pointed out that Moody's downgrade of the U.S. credit rating is related to the Biden administration's policies

U.S. Treasury Secretary Janet Yellen responded to NBC News regarding the downgrade of the U.S. credit rating by Moody's, stating that the rating is a "lagging indicator." Yellen pointed out that the downgrade is related to the spending policies of the previous Biden administration, which had touted these spending policies as investments in priorities, including addressing climate change and expanding healthcare coverage.

Moody's downgraded the U.S. credit rating from the highest "Aaa" to "Aa1" last week, reflecting an increase in government debt and interest payment ratios over the past decade, reaching levels far above those of similarly rated sovereign countries