Moody’s weighs in, Disney stock, and Vox’s inflation definition.
What is going on with the US economy these days? For the second time this year, the United States has been slapped with a credit downgrade. The first occurred this past summer when Fitch Ratings blindsided the financial markets and the White House by cutting the long-term foreign-currency issue default rating from AAA to AA+, citing “expected fiscal deterioration over the next three years.” Moody’s has now entered the picture.
In the Moody’s for a Downgrade
Moody’s Investors Service trimmed its rating outlook on the US government to negative from stable. The agency attributed the downgrade to the country’s fiscal health and political polarization. Here is what the organization stated in its report:
“In the context of higher interest rates, without effective fiscal policy measures to reduce government…
