Sunday, June 4, 2023
Woman PWR
No Result
View All Result
  • Home
  • Empowerment
  • Featured
  • Business
  • Health & Wellness
  • Influencers
  • Women PWR TV
  • Shop
  • Virtual Meeting
Woman PWR
  • Home
  • Empowerment
  • Featured
  • Business
  • Health & Wellness
  • Influencers
  • Women PWR TV
  • Shop
  • Virtual Meeting
No Result
View All Result
Woman PWR
No Result
View All Result

American Credit Rating Under Danger

Staff by Staff
May 26, 2023
in Empowerment
0
Home Empowerment

A week before a crucial deadline, ratings firm Fitch warned the White House and Republican opposition that their standoff on raising the country’s borrowing limit could risk the United States’ excellent credit rating.

Related Post: What Are The Ten Steps To Improve Your Business Credit Rating

According to Fitch, the action “reflects increased political partisanship that is impeding reaching a resolution to raise or suspend the debt limit” before June 1. Fitch placed the nation’s AAA-rated credit on “rating watch negative” in a statement.

According to the US Treasury Department, that is the “X-date” when the government will run out of money and fall into default, which may have disastrous economic repercussions for the US and possibly for the rest of the globe.

“Fitch still expects a resolution to the debt limit before the X-date,” the rating agency stated. “However, we believe risks have increased that the debt limit won’t be raised or suspended before the X-date and as a result, that the government may start to default on some of its debts.”

Fitch Ratings has put the nation’s AAA long-term foreign-currency issuer default rating on negative watch, citing the brinksmanship over the debt ceiling, just days before the United States may default on its debt. The economy and American consumers would suffer greatly if the nation were to go into default on its obligations.

Also Read: Maximizing Efficiency and Profitability with a Delivery Management System

RELATED POST

How Did Kylie Jenner Start Such A Successful Business At Such A Young Age?

What Are The Advantages Of Purchasing Beauty Services Insurance?

The agency stated in a press release on May 24 that the rating watch negative reflects “increased political partisanship that is impeding reaching a resolution to raise or suspend the debt limit despite the rapidly approaching X-date (when the U.S. Treasury exhausts its cash position and capacity for extraordinary measures without incurring new debt).

While Fitch stated that it still anticipates a debt ceiling agreement before the X-date, it also highlighted the fact that risks have increased and that the government may start to default on some of its debts.

The White House Council of Economic Advisers previously stated that the U.S. economy would likely suffer serious harm from a real breach of the debt ceiling. According to a recent Moody’s analysis cited, job growth would continue over the following few quarters, generating 900,000 jobs, under a clean debt ceiling rise. However, in the event of a lengthy default, there would be a loss of about 8 million jobs. Wall Street traders have expressed concerns about “seismic” repercussions if the United States did default, writing to Yellen in the introduction of the letter that a protracted period of inaction would “dramatically increase taxpayer costs and exacerbate market stress.”

Also Read: Why Finding A Suitable Push Notification Service Provider Is Essential For Your Company

All levels of government, including state and municipal, would see a reduction in their capacity to spend money, in addition to employment and market losses. The absence of credit opportunities for American borrowers would only make those challenges worse, having an impact on the housing and auto sectors among other things.

Source: Cosmo Politian

Tags: american credit ratingbrinksmanshipbusiness credit ratingclean debt ceiling risecompany debt ratingscredit opportunitiescredit rankingcredit ratingcredit rating companiescredit rating firmscredit rating servicesdebt ceilingdebt ceiling agreementeconomic advisersexcellent credit ratingfitch credit ratingfitch ratingsget credit ratingincrease credit ratingmoody credit ratingsmoody debt ratingspolitical partisanshiprating agency statedratings firm fitchunited states credit ratingus treasury departmentwall street traderswhite house council
ShareTweetPin

Related Posts

How Did Kylie Jenner Start Such A Successful Business At Such A Young Age?
Empowerment

How Did Kylie Jenner Start Such A Successful Business At Such A Young Age?

June 4, 2023
What Are The Advantages Of Purchasing Beauty Services Insurance?
Empowerment

What Are The Advantages Of Purchasing Beauty Services Insurance?

June 4, 2023
Digital Engagement Is A Significant Priority For The Consumer Products Business
Empowerment

Digital Engagement Is A Significant Priority For The Consumer Products Business

June 4, 2023
How Hackers Can Disrupt Your Business Website [INFOGRAPHIC]
Empowerment

How Hackers Can Disrupt Your Business Website [INFOGRAPHIC]

June 4, 2023
Larry Ellison – The Success Story of Oracle Cofounder Larry Ellison
Empowerment

Larry Ellison – The Success Story of Oracle Cofounder Larry Ellison

June 4, 2023
Dwayne Johnson: Why Is Dwayne Johnson A Role Model For Business Executives?
Empowerment

Dwayne Johnson: Why Is Dwayne Johnson A Role Model For Business Executives?

June 3, 2023
Next Post
Maximizing Efficiency and Profitability with a Delivery Management System

Maximizing Efficiency and Profitability with a Delivery Management System

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ABOUT US

An organization dedicated to Connecting, Inspiring & Empowering Women around the Middle East and the World. It is the first women empowerment organization that helps successful women meet like-minded successful women by bringing together high achieving successful professional women.

Follow us

QUICK LINKS

  • About
  • Privacy Policy
  • Terms
  • Contact
  • Advertise
  • Membership

Copyright © MetaMedia™ Capital Inc, All right reserved.

No Result
View All Result
  • Home
  • Empowerment
  • Featured
  • Business
  • Health & Wellness
  • Influencers
  • Women PWR TV
  • Shop
  • Virtual Meeting

Copyright © MetaMedia™ Capital Inc, All right reserved.