Fitch Downgrading US Credit Rating Won’t Have Lasting Impact: Analysis

Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors—and that came despite the resolution of the debt ceiling crisis two months ago.

“In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,” the rating agency said in a statement.

NTD spoke with economic analyst Mark Hamrick for his perspective.