NEW YORK: Rating agency Fitch, which downgraded the US top credit rating in August, cautioned about a possible government shutdown after US House Spea...
The ouster of McCarthy is the latest factor to prompt worry on Wall Street about US political governance. – ReuterspicRating agency Fitch, which downgraded the US top credit rating in August, cautioned about a possible government shutdown after US House Speaker Kevin McCarthy was ousted, but said it would not affect the US sovereign rating because that already captured the country's governance issues.
“Given the fact that the House speaker was ousted right after the continuing resolution was agreed, we expect political brinkmanship around government funding negotiations will remain tense and a shutdown later this year can’t be ruled out,” Richard Francis, a senior director at Fitch, said in a podcast.
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