• Fitch Downgrades U.S. Credit Rating Amid Rising Political Instability and Debt Burden

    In a significant economic development, Fitch Ratings has downgraded the U.S. government’s credit rating for the first time by a major ratings firm in over a decade. This decision comes in the wake of escalating political tension over U.S. finances and growing concerns about the national debt burden. The rating now stands at “AA+”, a step down from the previous top “AAA” grade. The downgrade is a reflection of the increasing political dysfunction in Washington and concerns about fiscal management. This rating downgrade by Fitch can potentially cloud the outlook…

    August 2, 2023