Fitch Ratings with the after-market bombshell
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Downgrades United States’ long-term ratings to ‘AA+’ from ‘AAA’;
outlook stable - Rating downgrade of
US reflects expected fiscal deterioration over next three years, a
high and growing general government debt burden - Forecasts a General
government deficit of 6.6% of GDP in 2024 and a further widening to
6.9% of GDP in 2025 - Expect US General
government deficit to rise to 6.3% of GDP in 2023, from 3.7% in 2022 - Expects one further
Fed hike for us to 5.5% to 5.75% by September