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Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.
The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market. (Read more: Fed's 'QE Infinity' Four Things That Could Go Wrong)
In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but reduces the value of the dollar.
In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said.
In April, Egan-Jones cuts the U.S. credit rating to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt.
US Credit Rating Cut by Egan-Jones ... Again - US Business News - CNBC
Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.
The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market. (Read more: Fed's 'QE Infinity' Four Things That Could Go Wrong)
In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but reduces the value of the dollar. ......
In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said.
In April, Egan-Jones cuts the U.S. credit rating to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt
It wasn't Obama's fault the first time.
It wasn't Obama's fault the first time.
give us the realse statement that states what you claim?
US Credit Rating Cut by Egan-Jones ... Again - US* Business News - CNBC
We all saw this coming.. I've been talking about it here for over 24 hours now and the libs just mocked me.. NOW WHAT you damn idiots?!
US Credit Rating Cut by Egan-Jones ... Again - US* Business News - CNBC
We all saw this coming.. I've been talking about it here for over 24 hours now and the libs just mocked me.. NOW WHAT you damn idiots?!
Kiss America goodbye. I enjoyed it while it lasted.
US Credit Rating Cut by Egan-Jones ... Again - US* Business News - CNBC
We all saw this coming.. I've been talking about it here for over 24 hours now and the libs just mocked me.. NOW WHAT you damn idiots?!
Kiss America goodbye. I enjoyed it while it lasted.
Ratings firm Egan-Jones report is not linked to in that article
