Why did the US credit rating just get dinged?

Photo caption: A trader watches a monitor at the Frankfurt Stock Exchange in Germany in March, 2023. Photo credit: Boris Roessler / Picture Alliance via Getty Images. Article by Keren Landman. Vox – August 2, 2023. 

On August 1, the Fitch Ratings agency downgraded the United States’ long-term credit rating from AAA to AA+ for only the second time in the nation’s history, in what’s generally seen as a signal of concern about the US’s creditworthiness. Many seemed perplexed by the move. Former Treasury Secretary Lawrence Summers called it […]

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