Moody’s Downgrade Largely a Symbolical One

Markets Rating agency Moody’s dropped a little bombshell in late US dealings last Friday. It stripped the US of its top notch AAA-rating over, unsurprisingly, the budgetary situation: “We do not believe that material multi-year reductions in mandatory spending and deficits will result from current fiscal proposals under consideration. Over the next decade, we expect […]

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