US Risks Another Credit Downgrade
Published / Last Updated on 22/11/2011
US Risks Another Credit Downgrade.
Chief economist at Mizuho Securities, Steve Riccuito has warned that the US faces a second rating downgrade by the end of this year due to the Congressional Joint Select Committee failing to agree on a debt reduction plan.
On Monday, the Congressional Joint Select Committee, announced it had been unable to reach a deal to cut $1.2trn from its $15trn budget, which will now trigger automatic spending cuts, which will take effect in 2013.