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Many experts say long-term federal debt – now more than $31 trillion – looms as a threat to U.S. fiscal health.

Fitch Ratings has downgraded US government credit from AAA to AA+ based on the medium-term fiscal outlook characterised by rising deficits and government debt. The downgrade is a signal that the US needs to get its budgetary process in order ahead of what looks like another political fight this fall, and although the Federal Reserve no longer expects a US downturn, Fitch expects a mild recession in the US in the fourth quarter this year and first quarter of 2024. US debt is predicted to reach 118% of gross domestic product by 2025, three times higher than the median of 39%.

(Bloomberg) -- The move by Fitch Ratings to downgrade US government credit has put a renewed focus on the nation’s debt trajectory, just when the world’s largest economy is shaking off forecasts for a looming recession.Most Read from BloombergFitch’s US Credit Downgrade Sparks Criticism Along With UneaseMissing Goldman Sachs Analyst Confirmed Dead by New York PoliceS&P 500 Drops 1% After Rally as Bond Yields Climb: Markets WrapPoland Sends Troops to Belarus Border After Airspace BreachWhy the US

A new model called HANK recognizes that one person can’t possibly represent all.

Jamie Dimon, CEO of JPMorgan, is so concerned about inflation that he will not invest Wall Street bank money. Homebuyers are pulling out of the market amid a