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Search resuls for: "James McCormack"


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☆ Fitch warns it could still downgrade America’s credit rating despite debt ceiling resolution
  + stars: | 2023-06-02 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
New York CNN —Fitch Ratings is keeping the United States on watch for a potential credit rating downgrade even after Congress passed a last-minute bill to avert a disastrous default. Although the resolution to the debt ceiling fight is a “positive,” Fitch expressed deep concern about the recurring brinksmanship and worsening polarization in Washington. That reasoning is similar to the rationale behind the downgrade by S&P in 2011 – an unprecedented step that occurred after Congress agreed to raise the debt ceiling. The latest debt ceiling battle has prompted more calls for reform or even eliminating the debt ceiling. This isn’t the first time the credit ratings firm has sounded the alarm about the messy state of affairs in America.
Persons: New York CNN — Fitch, Fitch, ” Fitch, “ Fitch, Richard Francis, Francis, Joe Biden, Chris Krueger, ” Krueger, “, James McCormack, Fitch’s, ” McCormack Organizations: New, New York CNN, CNN, Fitch, AAA, House Republicans, Congressional, Cowen’s Washington Research Group, Security, Medicaid, Fed, Treasury Locations: New York, United States, Washington, America
☆ We expect the U.S. Fed to hike rates by 25 basis points in the next meeting, Fitch Ratings says
  + stars: | 2023-03-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect the U.S. Fed to hike rates by 25 basis points in the next meeting, Fitch Ratings saysJames McCormack of the credit ratings agency says 50 basis points is "clearly off the table."
☆ America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns
  + stars: | 2023-03-06 | by ( Matt Egan | ) edition.cnn.com   time to read: +5 min
New York CNN —Every few years, Washington plays a dangerous game of chicken over whether to raise the debt ceiling or default on US debt. Even if a default is avoided this time, the frequent nature of these political showdowns could cause America’s credit rating to get downgraded, Fitch Ratings told CNN on Monday. Those already look messy and were at the heart of the unprecedented credit ratings downgrade by S&P Global Ratings in 2011. Goldman Sachs told CNN in late January that a full-blown debt ceiling crisis could spark a recession. That’s why Fitch does not have the United States on watch for a downgrade, at least not yet.
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