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Aug 15 (Reuters) - An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase (JPM.N), could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. In June, Fitch lowered the score of the U.S. banking industry's "operating environment" to AA- from AA, citing pressure on the country's credit rating, gaps in regulatory framework and uncertainty about the future trajectory of interest rate hikes. Another one-notch downgrade, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70...

The country is not embracing Bidenomics, in fact, most Americans are disgusted by the socialist economic policies of this administration. A new CNN poll indicates that just 37% of Americans give President Joe Biden a positive approval rating for his handling of the economy. For inflation, his approval rating slips to only 30%.

See also: US credit rating sinks as national debt increasesWhen Fitch, the securities ratings agency, downgraded US sovereign debt, it was a huge story in the financial world. The Wall Street Journal’s initial coverage noted that it was:…clouding the outlook for the $25 trillion global market for Treasurys. Fitch’s rating on the U.S. now stands at “AA+”, or one notch below the top “AAA” grade.America’s reputation for reliably making good on its IOUs has cast Treasury bonds in an indispensable role in global markets: a safe-haven security offering nearly risk-free returns. Treasurys serve as a critical benchmark for returns on...

During an interview with Bloomberg on Wednesday, White House Council of Economic Advisers Chair Jared Bernstein stated that the downgrade to America’s credit rating by Fitch isn’t giving credit where credit is due for legislation like the debt ceiling legislation and its deficit reduction, but that the debate over the debt ceiling that spawned that legislation was “terrible policy” and shouldn’t have happened. Co-host Romaine Bostick asked, [relevant exchange begins around 2:05:15] “I think you can certainly make a compelling argument about the timing and how the timing itself may certainly be a little questionable, if not flawed. The underlying...

The move by market agency Fitch Ratings to downgrade the United States’ debt rating has startled lawmakers and policymakers alike, who said Wednesday that they were perplexed by the move amid strong recent economic indicators. In addition, news Wednesday that U.S. political instability reflected in the Jan. 6, 2021, insurrection at the Capitol was a factor in the downgrading has further confused the Beltway, which was already reeling from a third indictment of former President Trump. Fitch downgraded its issuer default rating for the U.S. on Tuesday evening, surprising investors, roiling equity markets and sending bond yields higher Wednesday morning....

I feel like I’ve said this a lot lately, but Joe Biden has a lot of gall.I think there’s no question about it. He’s done such a horrible job on the economy, driving us into record inflation spurred on by reckless spending. But then he tries to take “credit” for all kinds of things he had nothing to do with or that aren’t true. He tries to label his failures a success, even calling the mess he’s put forth “Bidenomics” (as though that were something of which to be proud).But there’s only so much you can spin, and there’s no...

Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to “expected fiscal deterioration over the next three years,” as well as a growing general debt burden.

President Joe Biden will deliver his first Oval Office address as president from behind the Resolute Desk as he seeks to hold up the bipartisan achievement of avoiding a default on the nation's debt. The speech is set to be a victory lap after the House and Senate on Thursday passed through the budget agreement Biden negotiated with House Speaker Kevin McCarthy. It imposes flat funding for the next fiscal year, with a 1 per cent cut the next, while expanding work requirements for food stamps – but also accomplishes Biden's top goal of avoiding default.

With its CDS trading like an emerging market, it is likely no surprise that Fitch Ratings has placed the United States' 'AAA' Long-Term Foreign-Currency Issuer Default Rating (IDR) on Rating Watch Negative.CDS is trading like USA is anything but AAA-rated...With Fitch placing the United States' 'AAA' rating on Rating Watch Negative, here is an update of a very old chart I used to published: Composite Credit Rating (across the agencies) vs. 5Y CDS Across Select Countries. For obvious reasons, US CDS isn't trading in the AAA range. pic.twitter.com/yzyN4jluA8— Michael McDonough (@M_McDonough) May 25, 2023The T-Bill curve is not buying the...

JUST IN: First Republic Bank, the San Francisco-based lender that was cut to junk by S&P and Fitch, is exploring strategic options including a sale https://t.co/fRG03oAtZG pic.twitter.com/p5vSNmnTnd— Bloomberg (@business) March 15, 2023

United States Attorney Joe Kelly announced that Steven M. Fitch, age 25, of Council Bluffs, Iowa, was sentenced today in federal court in Omaha, Nebraska, by United States District Judge Brian C. Buescher for being in unlawful possession of a destructive device. Judge Buescher sentenced Fitch to 30 months’ imprisonment. There is no parole in the federal system. Once Fitch is released from prison, he will begin a three-year term of supervised release. An investigation conducted by the Omaha Police Department, the Douglas County Sheriff’s Office, the Federal Bureau of Investigation, and the Bureau of Alcohol, Tobacco and Firearms determined...

Fitch Ratings has downgraded Canada's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA'. The Rating Outlook is Stable. KEY RATING DRIVERS The rating downgrade reflects the deterioration of Canada's public finances in 2020 resulting from the coronavirus pandemic. Canada will run a much expanded general government deficit in 2020 and emerge from recession with much higher public debt ratios. The higher deficit is largely driven by public spending to counteract a sharp fall in output as parts of the economy were shuttered to contain the spread of the coronavirus. Although this will support recovery, the economy's investment...

Illinois' budget war took another whack out of the state's credit rating today as Moody's Investors Service lowered its review of state debt, moving it to Baa1 from A3. And the firm said its outlook on the state is negative—often a sign that another downgrade is coming in a few months. "The downgrades reflect weakening of the state's financial position during 2015 and our expectation that an ongoing budget stalemate will lead to further deterioration," Moody's said in a statement. ... In bumping Illinois' debt to three levels above junk, Moody's followed the lead of Fitch Ratings, which took a...

A second financial ratings agency has downgraded Chicago Public Schools’ debt rating to junk status, reinforcing Wall Street’s dim view of the district’s finances. Fitch Ratings on Monday downgraded billions of school board bonds to its “BB+” ranking, which it said reflected the “limited progress” CPS has made to address a vast budget gap as well as the district’s meager cash reserves. Fitch said those reserves are likely to be extinguished by next year. District officials have announced $200 million in spending cuts. Fitch said the district also will require “a combination of tax increases, contributions from the state and...

SPRINGFIELD, Ill. (AP) -- Fitch Ratings has downgraded the credit worthiness of Chicago's bond debt because of its public pension problems. Fitch dropped the rating from AA- to A- on $8 billion in general obligation bonds, backed by property taxes. It also dropped the rating on $497 million in sales tax bonds — paid for by both the city's local sales tax and its share of the state sales tax.

A major credit-rating firm warned it could downgrade the U.S. if lawmakers prioritize debt payments over other government obligations such as Social Security, or fail to tackle the nation's growing debt burden in the ongoing budget negotiations. Fitch Ratings, one of the ratings firms that are closely watching the U.S. inch closer to its borrowing limit, unveiled two potential routes to a downgrade Tuesday, laying out their analysis more specifically than in prior reports. Analysts predict the U.S. will hit its so-called debt ceiling between Feb. 15 and March 1. Fitch's warning comes as President Barack Obama and Republican leaders...

The United States could lose its top credit rating for the second time from a leading agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by the end of February or face a potential default, Fitch says. There are fears that the debate will descend into the sort of squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. Outgoing U.S. Treasury Secretary Timothy Geithner warned then that...

WASHINGTON -- Fitch Ratings said that there would be "no fiscal honeymoon" for President Obama, warning early Wednesday that the U.S. probably would lose its AAA credit rating if the White House and Congress don't address looming tax increases, spending cuts and the fast-approaching debt ceiling. "The economic policy challenge facing the president is to put in place a credible deficit-reduction plan necessary to underpin economic recovery and confidence in the full faith and credit of the U.S.," said Fitch, one of the three major credit rating companies. The expiration of the George W. Bush-era tax cuts and the start...

DOW JONES NEWSWIRES Fitch Ratings lifted its rating on Iceland to investment grade, citing the nation's progress in stabilizing its economy and pushing ahead with structural reforms. The upgrade puts Iceland's long-term foreign currency issuer default rating at triple-B-minus, placing it on the first rung of investment-grade territory. The outlook is stable. As one of the first countries to take a hit from the global financial crisis, the country is now showing a "promising" economic recovery, said Paul Rawkins, a senior director at the ratings firm. He added that Iceland has successfully completed a program with the International Monetary Fund...

FITCH GOES ON RAMPAGE: CUTS SPAIN, ITALY, BELGIUM, CYPRUS, AND SLOVENIA Simone Foxman January 27,2012 Fitch just cut the long-term issuer ratings of 5 EU countries: Belgium: AA+ to AA Spain: AA- to A Italy: A+ to A- Cyprus: BBB to BBB- Slovenia: AA- to A It affirmed Ireland's BBB+ rating with a negative outlook. Borrowing costs have been sinking for these countries lately–particularly for Italy and Spain—after the European Central Bank announced liquidity support measures in early December that have lessened mounting worries about the health of the banking system. While Fitch says that it supports EU leaders actions...