U.S. Credit Downgrade: Moody's Adjusts Rating Amid Fiscal Concerns
Moody's has downgraded the U.S. credit rating from 'Aaa' to 'Aa1', citing high debt and interest rates. The move reflects concerns over fiscal deficits and interest costs, with President Trump aiming to balance the budget. The downgrade follows a similar action by Fitch earlier this year.
In a significant move, Moody's Investor Service downgraded the United States' credit rating from 'Aaa' to 'Aa1'. The decision comes on the heels of mounting debt concerns and interest rates that surpass those of other top-rated nations.
Amid ongoing fiscal challenges, the agency expressed reservations about Washington's ability to implement effective debt-reducing measures, a concern that has persisted through multiple administrations.
Following this decision, President Donald Trump and Treasury Secretary Scott Bessent face increased pressure to address these economic challenges, particularly after Trump's recent tax bill met resistance in Congress.
(With inputs from agencies.)
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