Ratings Agency Downgrades U.S. Credit

Ratings Agency Downgrades U.S. Credit

Downgraded. Again.  Citing the most recent round of stimulus, the ratings agency Egan-Jones on Friday gave the U.S. a credit rating of AA-, down from its solid AA rating.  Michael Aneiro at Barron’s notes that the downgrade comes three days after Egan-Jones “affirmed its AA rating for the U.S. but warned that further Fed stimulus could trigger a downgrade.” Thanks, Bernanke.  The agency writes:

[T]he FED’s QE3 will stoke the stock market and...