14.8 C
New York
Tuesday, May 21, 2024

Fitch Ratings ‘Bizarre and Inept’ US Credit Downgrade Ignores One Key Fact

Fitch Ratings ‘Bizarre and Inept’ US Credit Downgrade Ignores One Key Fact

Fitch Ratings cut its triple-A credit grade for U.S. debt late Tuesday. But it forgot to consider one inescapable fact.

Fitch Ratings late on Tuesday delivered a potentially humiliating blow to America’s financial reputation, lowering the country’s coveted triple-A credit rating and issuing a scathing indictment of its political processes, its fiscal management and its long-term debt prospects.

The only trouble is none of Fitch’s assessments really matter to global investors and won’t have any impact on the issues the credit-rating company raised nor market demand for the trillions of dollars in Treasury securities that underpin the world’s financial system.

More here >

This post was originally published on this site

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,191FansLike
396,312FollowersFollow
2,300SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x