Ratings Agency Egan-Jones Downgrades US Debt
Date: Sep 15 2012
Filed under: Market News
Ratings agency Egan-Jones has downgraded its credit rating for US debt one level — to AA- from AA — the Associated Press reports.
According to Bloomberg, Egan-Jones cited “the potential for the Federal Reserve’s third round of large-scale asset purchases to weaken the dollar and drive up inflation,” without significantly raising the country’s real gross domestic product.
“From 2006 to present,” the ratings agency said in a note, “the US’s debt to GDP rose from 66% to 104% and will probably…
Ratings Agency Egan-Jones Downgrades US Debt originally appeared on DailyFinance.com on 2012-09-14T16:38:00Z.
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