Us Ecoomy News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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%.

Banks are failing, real wages are falling, consumer debt is at record highs, and it is all thanks to the decades-high inflation caused by President Joe Biden’s reckless spending. The economy was already recovering from coronavirus lockdowns by the time Biden was sworn into office. All he had to do was make the COVID-19 vaccine available, and the economy would have bounced back on its own.

Officials have laid the groundwork to more quickly end a pandemic-era stimulus program at their meeting next week

NEW YORK, Nov 30 — Wall Street stocks closed higher yesterday, regaining some of the ground they lost in Friday’s sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurance from US President Joe Biden. The Nasdaq led gains among the...