Fitch Maintains AA+ Rating for U.S. Amid Stable Outlook
Credit ratings agency Fitch has maintained its AA+ long-term foreign currency sovereign credit rating for the United States. Despite projecting that the United States economy would grow at a shrinking rate in 2024, Fitch has maintained a "stable" outlook for the economy, which has...
U.S. GDP Growth Hits 5.2% in Third Quarter
U.S. economic growth for the third quarter of 2023 hit 5.2% on an annual basis, outperforming the government's expectation of 4.9% growth. This is a sharp rise from the 2.1% economic growth attained from April through June as well as the largest U.S. GDP...
Moody’s Lowers U.S. Credit Rating to Negative
Ratings agency Moody's decided to lower its outlook on the U.S. credit rating from "stable" to "negative" as federal spending contributes to a larger fiscal deficit. A rise in government spending rocked investors' confidence, leading to a government bond selloff that took their prices...
Latest Data Expected to Show Continued U.S. Economic Strength
An influx of incoming economic data is expected to show that the U.S. economy remains strong despite recession concerns. Considering that the economy grew at its fastest rate in the third quarter in nearly two years, this is posing a challenge for the Federal...
U.S. Treasury Secretary Confirms That U.S. Economy is Not Facing Downturn
U.S. Treasury Secretary Janet Yellen confirmed on Monday that she has not seen any evidence of a U.S. economic downturn. Still, she warned that economic momentum remains reliant on the government's ability to pass legislation to support the world's biggest economy.
"I don't see any signs...
Dollar Surges to Five-Month High Following Positive US Economic Data
The US dollar skyrocketed to a five-month high on Tuesday as strong US economic data raised bets that the Federal Reserve will need to keep interest rates elevated for longer. Weaker economic data from China and Europe has also raised investor sentiment for the...