The Guardian reporting today that Moody’s or Fitch may reduce the US credit rating by November or December. S&P dropped the US from AAA to AA+ in August.
Merrill Lynch’s North American economist, Ethan Harris, said. “We expect at least one credit downgrade in late November or early December when the super committee crashes.”
November 23 is the deadline for Democrats and Republicans to come to an agreement on a deficit deal which aims to reduce the debt by 1.2 trillion.