Janet Yellen News

Why did FITCH downgrade USA's rating? What were the prime factors? How will it effect the Middle class across the world?

Fitch Ratings downgraded USA's credit rating from AAA to AA+. What does that mean and what effect does it have on any economy? What is the job of credit rating agencies? #fitchratings #credit #creditrating #fedreserve #joebiden #janetyellen #debt #debtceiling #moody #standardandpoors #bond #AAA #AA+

Fitch Ratings downgraded USA's credit rating from AAA to AA+. What does that mean and what effect does it have on any economy? What is the job of credit rating agencies? #fitchratings #credit #creditrating #fedreserve #joebiden #janetyellen #debt #debtceiling #moody #standardandpoors #bond #AAA #AA+

Why did FITCH downgrade USA's credit rating? What were the prime factors? How will it effect the Middle class across the world? MINT explains

The world and India want to move away from fossil fuels as soon as possible. This requires massive private investment and ways to lower the cost of capital. As you know, currently, India is one of the biggest emitters in absolute terms. But its per capita emission is low. And that’s why U.S. and India have decided to collaborate closely on these issues. Speaking on the sidelines of the G20 meeting U.S. Treasury Secretary and India's finance minister Nirmala Sitharaman shared the plan under which U.S. and India will collaborate to speed up India's green energy transition.

Biden administration is in a state of panic as the default ceiling deadline nears. The administration raised warned of ‘catastrophic’ consequences for the US economy, in case, the U.S. does default as the negotiations with the Republicans have not yet led to a desirable result. The Biden admin raised yet another alarm last week after the treasury secretary warned of job losses and other serious consequences earlier.

The debt ceiling, which reflects already spent federal funds, must be raised by the U.S. Congress at the earliest. But President Joe Biden wants it raised without any conditions. And the Republicans continue to drag the matter. To try to resolve the standoff, Biden met Republican House Speaker Kevin McCarthy, Democratic legislative leaders, and Senate Minority Leader Mitch McConnell on Tuesday. According to a Reuters report, Janet Yellen has decided to reach out to CEOs and financial leaders personally to warn them about the risks of defaulting.

Treasury Secretary Janet Yellen played down any concern that the recent surge in U.S. government-bond yields reflects expectations for an outsized breakout in inflation.

Yellen said Fed officials have “been looking to engineer something of a slowdown” because the labor market is “really quite tight” Yellen said that while Fed officials had marked down their economic growth forecasts to a median of 2.1% for 2019