Reported 1 day ago
Moody's has downgraded the U.S. credit rating from Aaa to Aa1, marking the nation's absence of a top rating among major agencies. The agency attributes this decision to rising federal debt and interest payments significantly exceeding those of similarly rated countries. It highlights a lack of bipartisan efforts to address fiscal deficits, suggesting that continued high borrowing costs may result from this downgrade. While the outlook is now stable, the potential implications include increased costs for consumers borrowing money.
Source: YAHOO