Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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.
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.
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.
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.
No leadership at all from the White House on reducing our debt. Wah. The president needs super majorities in both houses to do anything.
I guess I shouldn't be surprised ... by the ignorance expressed in many discussions on these forums. I think some of the folks posting comments preceding these need to go back to high school and re-take the Civics and/or government class ... so that they learn how the country works, how currency valuations work, and what the role of the branches and agencies of government are.
I guess I shouldn't be surprised ... by the ignorance expressed in many discussions on these forums. I think some of the folks posting comments preceding these need to go back to high school and re-take the Civics and/or government class ... so that they learn how the country works, how currency valuations work, and what the role of the branches and agencies of government are.
Yeah.....a partisan Fed Chairman that is unelected is quite dangerous.
Egan Jones is not one of the "big three" rating agencies and is widely seen on Wall St. as not being the most credible source since the Jeffries fiasco.
Egan Jones is not one of the "big three" rating agencies and is widely seen on Wall St. as not being the most credible source since the Jeffries fiasco.
Oh sorry then......so this is a GOOD THING then right?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
