US CREDIT: Rating Downgraded by Fitch

WARNING!

By Staff Reporters

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Fitch, the credit assessor knocked the US’ credit rating from the gold-standard AAA to AA+, citing the country’s growing debt burden and the “erosion of governance” (a reference to political standoffs over the debt ceiling).

LINK: https://www.fitchratings.com/

The last time the US received a credit downgrade was in 2011, when S&P sent it to AA+, causing market mayhem. Past and present US economic officials said Fitch was off its rocker for the decision. Former Treasury Secretary Larry Summers called it “bizarre and inept” given the current strength of the US economy.

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