Hassett, director of the National Economic Council, criticised Moody's decision to downgrade the US credit rating, calling the move an outdated perception and saying the Trump administration was committed to reducing federal spending. Hassett said: There is no doubt that US Treasuries are the safest investment on the planet. No country's (bonds) make me more willing to hold them than US Treasuries, so Moody's can do whatever it wants. Hassett added: "This is a retrospective approach that is punishing us for the reckless spending of the Biden administration. Hassett also said: We are cutting spending, we are deregulating. We have supply-side growth, so we have every reason to believe that we will have the best economy in the world. If you have the best economy in the world, you will also have the best debt in the world. That's my assessment of it. (Jin Ten)