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Egan-Jones Downgrades U.S. to AA- from AA
Wall St Journal – Egan-Jones Ratings Co. cut its rating on the U.S. Friday, following through with a warning it made earlier in the week that further easing from the Federal Reserve would spark a downgrade. The central bank announced a new round of bond purchases Thursday. The small ratings company, which falls outside the big three of Moody’s Investors Service, Standard Poor’s and Fitch Ratings, cut its rating on the U.S. one notch to double-A-minus from double-A. Read Article
Tags: 2nd Great Depression, banks, debt wealth, financial system, North America
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