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"Fitch downgrades U.S.' long-term ratings from 'AAA' to 'AA+'; Ratings agency expects 'fiscal deterioration' of U.S. 'over the next three years'" - Fox Business - SCW Newswatch
Fox Business reported on the announcement by Fitch Ratings that it was downgrading its financial rating of the U.S. government to account for concerns over U.S. fiscal troubles including federal debt.
"Fitch announced Tuesday it has officially downgraded the United States' long-term foreign-currency issuer default rating to "AA+" from "AAA," saying the downgrade "reflects the expected fiscal deterioration" and the nation's heavy debt burden. The ratings agency pointed the America's "erosion of governance," rising deficits, and tightening by the Federal Reserve. It also said its expects the U.S. economy to slip into a mild recession in the fourth quarter. ..."
Biden Administration appointee Janet Yellen, U.S. Treasury Secretary, tried to argue with the assessment and over how it should be regarded.
Click here for "Fitch downgrades U.S.' long-term ratings from 'AAA' to 'AA+'; Ratings agency expects 'fiscal deterioration' of U.S. 'over the next three years'" - Fox Business 8.1.23
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Keywords: U.S. Government, National Debt, Biden, Yellen, Finance, Investment Rating, Fitch Ratings
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