{"id":83180,"date":"2023-11-10T19:07:40","date_gmt":"2023-11-11T00:07:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/moodys-cuts-outlook-on-u-s-credit-rating-to-negative-from-stable\/"},"modified":"2023-11-10T19:07:44","modified_gmt":"2023-11-11T00:07:44","slug":"moodys-cuts-outlook-on-u-s-credit-rating-to-negative-from-stable","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=83180","title":{"rendered":"Moody\u2019s cuts outlook on U.S. credit rating to negative from stable"},"content":{"rendered":"
\n

Moody\u2019s Investors Service late Friday cut its outlook on the U.S. sovereign credit rating to negative from stable, citing higher interest rates and doubts about the government\u2019s ability implement effective fiscal policies.<\/p>\n

A negative outlook means that a rating may be cut in the future, but doesn\u2019t mean that it will be. Moody\u2019s continues to rate U.S. sovereign debt Aaa \u2014 the only one of the three major credit-rating companies to maintain a triple-A rating on the world\u2019s largest economy.<\/p>\n

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\u201cThe sharp rise in U.S. Treasury bond yields this year has increased pre-existing pressure on U.S. debt affordability. In the absence of policy action, Moody\u2019s expects the U.S.\u2019s debt affordability to decline further, steadily and significantly, to very weak levels compared to other highly-rated sovereigns, which may offset the sovereign\u2019s credit strengths explained below,\u201d the company said, in a statement.<\/p>\n

In response to the announcement, a Treasury Department official said the agency disagrees with the warning sounded by Moody\u2019s.<\/p>\n

\u201cWhile the statement by Moody\u2019s maintains the United States\u2019 Aaa rating, we disagree with the shift to a negative outlook. The American economy remains strong, and Treasury securities are the world\u2019s preeminent safe and liquid asset,\u201d said Deputy Secretary of the Treasury Wally Adeyemo, in a statement. <\/p>\n

He went on to say that the Biden administration\u2019s more than $1 trillion in deficit reduction included in the June debt limit deal and budget proposals that would reduce the deficit by nearly $2.5 trillion over the next decade put the country on sounder footing than the Moody\u2019s outlook would suggest.<\/p>\n

Moody\u2019s said the rating could be cut if the company concludes that policy makers were unlikely to respond to the country\u2019s growing fiscal challenges over the medium term, through measures to increase government revenue or structurally reduce spending to slow the deterioration in debt affordability.<\/p>\n

Fitch Ratings cut its top U.S. credit rating to AA+ from AAA\u00a0in August. S&P cut its AAA rating in 2011 after an earlier budget showdown.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investors Service late Friday cut its outlook on the U.S. sovereign credit rating to negative from stable, citing higher interest rates and doubts about the government\u2019s ability implement effective fiscal policies. A negative outlook means that a rating may be cut in the future, but doesn\u2019t mean that it will be. Moody\u2019s continues to […]<\/p>\n","protected":false},"author":1,"featured_media":83181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-83180","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nMoody\u2019s cuts outlook on U.S. credit rating to negative from stable | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Moody\u2019s Investors Service late Friday cut its outlook on the U.S. sovereign credit rating to negative from stable, citing higher interest rates and doubts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=83180\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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