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Moody’s strips U.S. of triple-A credit rating
Agency warns of strains caused by rising government debt and a widening budget deficit
Moody’s has stripped the US of its top-notch triple-A credit rating as it warned about rising levels of government debt and a widening budget deficit in the world’s biggest economy. “The biggest problem out there now is not the tariffs, it is the lack of progress on deficit talks in DC,” said Andy Brenner, head of NatAlliance Securities, adding that the downgrade was “putting pressure on Treasuries”. The Republican budget and tax bill failed to pass in the House of Representatives on Friday after a faction of Trump’s party in Congress argued that the legislation would add too much to the federal deficit.
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