Posted 11/12/2023, 2:08:14 PM
Moody's Downgrades U.S. Economic Outlook to 'Negative' Amid Growing Fiscal Deficits, Political Gridlock
- Moody's downgraded the U.S. economic outlook from "stable" to "negative"
- Move brought criticism from Biden administration
- Latest in series of issues flagged by rating agencies about U.S. financial strength
- Moody's cited growing fiscal deficits for downgrade
- Continued political polarization raises risk lawmakers can't slow debt decline
- Significant policy response unlikely before 2025 due to political calendar
- Follows Fitch's downgrade of U.S. credit rating in August
- Biden administration disagrees with Moody's negative outlook