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Fitch US downgrade followed protocols, despite timing questions

When Fitch Ratings dropped its bombshell downgrade of the U.S. credit rating on Tuesday, Biden administration officials cried foul over the "bizarre" timing and argued that it unfairly punishes them for political chaos under President Donald Trump. Harvard's Larry Summers and JPMorgan's Jamie Dimon were among those who blasted the decision as "inept" and "ridiculous," respectively, questioning the timing of the downgrade two months after the White House and Congress had worked together to avert a debt ceiling crisis. However, Fitch followed a well-established process as it made its assessments in previous weeks and included U.S. officials at several steps along the way, Reuters' reporting shows. ....

United States , White House , District Of Columbia , Jpmorgan Jamie Dimon , Donald Trump , Mark Sobel , Joe Biden , Heather Timmons , Davide Barbuscia , Alistair Bell , Richard Francis , David Lawder , Fitch Ratings , Republicans In Congress , President Donald , Larry Summers , Jamie Dimon , President Joe Biden , President Donald Trump , Social Security , Alexander Hamilton ,

Fitch US downgrade followed protocols, despite timing questions

When Fitch Ratings dropped its bombshell downgrade of the U.S. credit rating on Tuesday, Biden administration officials cried foul over the "bizarre" timing and argued that it unfairly punishes them for political chaos under President Donald Trump. Harvard's Larry Summers and JPMorgan's Jamie Dimon were among those who blasted the decision as "inept" and "ridiculous," respectively, questioning the timing of the downgrade two months after the White House and Congress had worked together to avert a debt ceiling crisis. However, Fitch followed a well-established process as it made its assessments in previous weeks and included U.S. officials at several steps along the way, Reuters' reporting shows. ....

United States , White House , District Of Columbia , Davide Barbuscia , Donald Trump , David Lawder , Jpmorgan Jamie Dimon , Joe Biden , Mark Sobel , Richard Francis , Heather Timmons , Alistair Bell , Republicans In Congress , Fitch Ratings , President Donald , Larry Summers , Jamie Dimon , President Joe Biden , President Donald Trump , Social Security , Alexander Hamilton ,