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❗️Fitch downgraded the US credit rating from “AAA” to “AA+”.
Rationale: the rapid growth of the national debt and budget deficit, a record increase in the Fed rate, an increase in the risk of a crisis in the US economy.
👆All the reasons given by Fitch are reasonable and objective. The inertia of growth is still maintained, so the US economy looks better than it really is. But the longer the rate stays at such a high restrictive level, the more problems in the US economy will increase. Now the rating agencies have begun to notice this.
The main difficulty of this whole situation is that it is unclear how to get out of it:
In general, the United States is in a tangle of problems connected with each other. And the only answer of the authorities is – let’s collect more debt and use it to close the holes in the budget. This method will not work forever. Hence the downgrade of the US.
How did the downgrade affect the markets? A slight rise in the VIX and a drop in the indices
@ESG_Stock_Market
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