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Moody's downgraded the U.S. credit rating from Aaa to Aa1, citing rising government debt and deficits. This follows similar downgrades by S&P and Fitch. Moody's attributed the downgrade to a lack of bipartisan agreement on fiscal policy and the projected increase in federal deficits. Despite the downgrade, Moody's maintained a stable outlook, highlighting the U.S.'s strong economy and the dollar's global reserve status. The downgrade comes after the House rejected President Trump's proposed extension of tax cuts, which Moody's projected would worsen the deficit.

Prepared by Christopher Adams and reviewed by editorial team.