Fitch Ratings has downgraded US government credit from AAA to AA+ based on the medium-term fiscal outlook characterised by rising deficits and government debt. The downgrade is a signal that the US needs to get its budgetary process in order ahead of what looks like another political fight this fall, and although the Federal Reserve no longer expects a US downturn, Fitch expects a mild recession in the US in the fourth quarter this year and first quarter of 2024. US debt is predicted to reach 118% of gross domestic product by 2025, three times higher than the median of 39%.
(Bloomberg) The move by Fitch Ratings to downgrade US government credit has put a renewed focus on the nation’s debt trajectory, just when the world’s largest economy is shaking off forecasts for a looming recession.Most Read from BloombergFitch’s US Credit Downgrade Sparks Criticism Along With UneaseMissing Goldman Sachs Analyst Confirmed Dead by New York PoliceS&P 500 Drops 1% After Rally as Bond Yields Climb: Markets WrapPoland Sends Troops to Belarus Border After Airspace BreachWhy the US
Fitch Downgrade Spotlights US Debt Worry as Recession Fear Fades bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Around 50 boats with 200 crew and as many more supporters will sail into Inis Mór next week – boosting the island’s staycation economy over five days of the west coast’s biggest sailing event of the year. It’s all down to the West of Ireland Offshore Racing Association’s Championships which take place from Wednesday to […]
Participants will eat, drink, and solve a mystery in honor of Erle Stanley Gardner's legacy. The prolific author and Malden native was best known for the Perry Mason series of detective stories.