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Treasury Secretary Scott Bessent dismissed Moody's credit rating downgrade of the US as a lagging indicator, attributing it to long-term debt increases and not solely to current administration policies. He cited conversations with Walmart CEO Doug McMillon regarding tariffs, stating Walmart would absorb some costs as it has done previously. Bessent also defended President Trump's acceptance of a Qatari jet, highlighting investment commitments secured during a recent Middle East trip. Senator Chris Murphy countered, emphasizing the seriousness of the downgrade's potential economic consequences.

Prepared by Christopher Adams and reviewed by editorial team.