Christina Wilkie covers the White House for @CNBC.com.
Moody’s Investors Service on Friday lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength. The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa. “In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said.
“The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset.” Moody’s move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. For now, the government is funded through Nov. 17, but lawmakers in Washington remain at loggerheads over a bill ahead of the deadline. Newly elected House Speaker Mike Johnson, R-La.
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