Moody's Cuts US Credit Outlook, Another Govt Shutdown Looms

Ratings agency Moody's has cut the outlook for US government debt citing deficits and political polarization as reasons for the cut. Moody's is the last of the major ratings agencies maintaining a Aaa rating on US government debt after S&P cut the US rating in 2011 and Fitch did the same in August of this year. Meanwhile unrealized losses from bonds continue to accumulate in the banking system with Schwab making headlines this morning.

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#Moodys #USCreditRating #Recession