Fitch Says U.S. Debt Limit Deal Leaves Key Fiscal Challenges Unaddressed; U.S. Fiscal Deficits Will Continue Widening Over Our Forecast Horizon, Notwithstanding Modest Spending Cuts In Fiscal Responsibility Act Of 2023
Portfolio Pulse from Happy Mohamed
Fitch Ratings has expressed concern that the U.S. debt limit deal leaves key fiscal challenges unaddressed. The agency predicts that U.S. fiscal deficits will continue to widen over their forecast horizon, despite the modest spending cuts in the Fiscal Responsibility Act of 2023.
July 10, 2023 | 7:41 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The concerns raised by Fitch about the U.S. fiscal situation could potentially impact the SPY ETF, which tracks the S&P 500 and is heavily influenced by the overall U.S. economic outlook.
Fitch's concerns about the U.S. fiscal situation could lead to increased market volatility and uncertainty, which could negatively impact the SPY ETF. The ETF is heavily influenced by the overall U.S. economic outlook, and any negative news about the U.S. fiscal situation could potentially lead to a decrease in its value.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75