U.S. Credit Downgrade

[Axtremus]

Fitch, 2023-08-01

https://www.fitchratings.com/research/sovereigns/fitch-downgrades-united-states-long-term-ratings-to-aa-from-aaa-outlook-stable-01-08-2023

Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'; Outlook Stable

Fitch cites, among other reasons, the following:

1. Repeated partisan debt ceiling standoffs.
2. Growing general debt and general deficit.
3. Growing Medicare and Social Security liabilities with now structural change in sight.

[George K]

I was assured by SecTres that this is an error based on old data.

Growing general debt and general deficit.

I was assured by POTATUS that he cut the debt.

[Jolly]

Bidenomics, muthafucka...

[taiwan_girl]

From my read, it is not so much a downgrade based on current economy but on the "disfunction" in Washington between the two parties. (Debt ceiling block, etc etc)

[Jolly]

@Jolly said in U.S. Credit Downgrade:

Bidenomics, muthafucka...

But I repeat myself...

[George K]

Downgrade dozens of banks, including JPMorgan Chase

A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence — the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase.

The ratings agency cut its assessment of the industry’s health in June, a move that analyst Chris Wolfe said went largely unnoticed because it didn’t trigger downgrades on banks.

But another one-notch downgrade of the industry’s score, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70 U.S. banks it covers, Wolfe told CNBC in an exclusive interview at the firm’s New York headquarters.

“If we were to move it to A+, then that would recalibrate all our financial measures and would probably translate into negative rating actions,” Wolfe said.

[Jolly]

@Jolly said in U.S. Credit Downgrade:

@Jolly said in U.S. Credit Downgrade:

Bidenomics, muthafucka...

But I repeat myself...

Again...