Does Fitch’s Downgrade of U.S. Debt Really Matter?

A woman walks past a currency exchange office in Moscow in August 2023. How has Fitch downgrading the U.S. credit rating affected major U.S. and foreign investors?

The timing of Fitch’s decision was strange , as the United States was actually improving on all the metrics that Fitch set out in its ratings watch last year. The national debt has fallen relative to the gross domestic product (GDP). The U.S. economy has avoided a recession even as inflation rates have come down. And President Joe Biden and Speaker of the House Kevin McCarthy were able to reach an agreement […]

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By Donato