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The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover...

New York Community Bank on Wednesday promoted its chairman to help stabilize the company’s operations. Late Tuesday Moody’s Investors Service downgraded NYCB’s credit ratings two notches to junk. The regional bank has been in free fall, shedding more than 50% of its market value across a punishing series of trading sessions, since reporting a surprise fourth-quarter loss last week. ... New York Community Bank on Wednesday promoted its chairman to help stabilize the company’s operations, hours after Moody’s Investors Service downgraded the bank’s credit ratings two notches to junk. Shares gained nearly 7% Wednesday after initially falling as much as...

Three US banking giants have just had their ratings downgraded to “negative” by Moody’s. Moody’s Investor Service downgraded JPMorgan Chase, Wells Fargo and Bank of America to negative ratings after previously classifying them as stable, MarketWatch reports. Analyst Peter E. Nerby of Moody’s said that the worsening outlook on bank debt was due to “the potentially weaker capacity of the government of the United States of America (Aaa negative) to support the U.S.’s systemically important banks.” In particular, JPMorgan’s downgrade was partially because the bank runs a “complex” capital markets business that may post “substantial” risks to its creditors. A...

Treasury Secretary Janet Yellen said she disagrees with the recent move by Moody’s Investors Service’s to shift the U.S. outlook from stable to negative. “The American economy is fundamentally strong and Treasury securities remain the world’s preeminent safe and liquid asset,” Yellen said Monday following the APEC Finance Ministers’ Meeting in San Francisco. The Moody’s move is “a decision that I disagree with,” Yellen added. While the U.S. still has its “AAA” rating from Moody’s, the agency called higher interest rates and the rising debt a risk to America’s fiscal strength.

The Biden administration rejected the Moody's downgrade, with Treasury officials insisting the U.S. economy is thriving. Moody's Investor Service on Friday downgraded its outlook for the U.S. to "negative" from "stable" while maintaining the nation's AAA credit rating. "In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody's expects that the US' fiscal deficits will remain very large, significantly weakening debt affordability," the service announced. "Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow...

Right on the heels of seeing a downgrade of the creditworthiness of the United States itself, Moody’s has downgraded ten small to medium banks across the country, citing “financial strain” and “strains that could erode their profitability.” Six more banks are under review, and another eleven have been shifted from “stable” to negative. If you still have all your money in the banking system, you’re quickly running out of time to change strategies and preserve some of your wealth. Which banks got downgraded? The ten banks which were downgraded are: Commerce Bancshares BOK Financial Corporation M&T Bank Corporation Old National...

Moody’s has cut the credit ratings of ten small and mid-sized banks. The agency cited higher funding costs, rising interest rates, and increased risked due to the failing commercial real estate sector. M&T Bank, BOK Financial, Webster Financial, Pinnacle Financial, Old National Bancorp, and Fulton Financial were among the banks that received downgraded ratings. But it does not stop there. Moody’s is also reviewing six giant banks, including Trist Financial, Bank of New York, Cullen/Frost Bankers, State Street, Northern Trust, and US Bancorp, as they may also be downgraded. Eleven other banks such as Capital One, Citizens Financial, and Fifth...

(Reuters) - Moody's cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength will likely be tested by funding risks and weaker profitability. Moody's cut the ratings of 10 banks by one notch and placed six banking giants, including Bank of New York Mellon, US Bancorp, State Street and Truist Financial on review for potential downgrades. "Many banks' second-quarter results showed growing profitability pressures that will reduce their ability to generate internal capital," Moody's said in a note. "This comes as...

Moody's Investors Services, a credit rating system, put several banks on review for a potential downgrade following the collapse of Silicon Valley Bank (SVB). The Federal Deposit Insurance Corporation (FDIC) announced the closure of Silicon Valley Bank on Friday amid a run on the bank, a move that raised concerns about the potential of future bank collapses. Following that collapse, Moody's placed First Republic Bank (FRC), Zions (ZION), Western Alliance (WAL), Comerica (CMA), UMB Financial (UMBF) and Intrust Financial on review, meaning the banks are now perceived as more risky investments by lenders.

In a harsh blow to an already-reeling sector, Moody’s Investors Service on Monday cut its view on the entire banking system to negative from stable. The firm, part of the big three rating services, said it was making the move in light of three key failures that prompted regulators to step in Sunday with a dramatic rescue plan for depositors and other institutions impacted by the crisis. “We have changed to negative from stable our outlook on the US banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank,...

Biden couldn’t have done a better job destroying the US economy if he tried. Earlier today, Moody’s dropped its rating for the Banking SEGMENT from stable to negative. This was a huge event that those in the banking and finance areas know is a very big deal. Moody’s doesn’t downgrade entire segments without much thought and discussion on the matter. CNBC reported: “We have changed to negative from stable our outlook on the US banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and...

New York, June 24, 2022 -- Moody's Investors Service ("Moody's") has today affirmed the Government of United States of America's (US) Aaa long-term issuer and senior unsecured ratings. The outlook remains stable. The rating affirmation is driven by Moody's view that the US is emerging from the pandemic shock with its credit strengths intact, underpinned by exceptional economic strength, high institutional and governance strength, and the unique and central roles of the US dollar and US Treasury bond market in the global financial system, which among other benefits provide extraordinary funding capacity. The US' strong policy response to the pandemic...

Claim: “Here’s the deal. Moody’s today went out—Wall Street firm, not some liberal think tank—said if we pass the other two things I’m trying to get done we will in fact reduce inflation. Reduce inflation. Reduce inflation,” Joe Biden said of his $4 trillion of proposed spending at a live CNN town hall Wednesday night. Verdict: False. The Moody’s report, put together by a Democrat economist, did not say Biden’s plan would reduce inflation.

The recession is hitting state and city budgets hard in the new fiscal year that starts on July 1. They are responding by firing workers, reducing services, and even increasing taxes. Massive federal aid is the only real solution. The new fiscal year for 46 states and many cities begins on Wednesday. And a flood of red ink caused by the deep pandemic recession is forcing them to fire workers, reduce spending and services, and even raise taxes (one of the worst things you can do in a recession). Without Congress providing up to $1 trillion in federal aid, non-federal...

President Donald Trump has a love/hate relationship with polls, surveys and predictions. He loves the ones that paint him in a positive light, and, of course, he hates all those “fake” ones that don’t. He’s going to absolutely adore this one. According to Moody’s Analytics, Trump is headed toward another four years in the White House. And, if the numbers are right, it won’t even be close. In fact, his Electoral College victory could very well be wider than the 304-227 margin he enjoyed over Democratic rival Hillary Clinton in the 2016 election. Since 1980, Moody’s has managed to nail...

President Donald Trump looks likely to cruise to re-election next year under three different economic models Moody’s Analytics employed to gauge the 2020 race. Barring anything unusual happening, the president’s Electoral College victory could easily surpass his 2016 win over Democrat Hillary Clinton, which came by a 304-227 count.

ORLANDO, Fla.—The state dubbed it the I-4 Ultimate for its grand scope. For some here, it’s more like the ultimate headache. A reconstruction of 21 miles of congested interstate highway through the heart of Orlando will build or rebuild 140 bridges, redesign 15 interchanges, move exits and add new toll lanes, in a $2.3 billion project to smooth traffic through one of the nation’s fastest-growing cities. Dense cities have grown up around the aging freeways, hemming them in so that expensive engineering feats are needed to do work on them. Yet work is often unavoidable. I-4, for instance, was built...

Interstate 4’s overhaul will run eight months beyond a scheduled finish in early 2021 and $100 million over a $2.3 billion budget, according to a recent claim by the builder. Neither the builder, I-4 Mobility Partners, nor the state Department of Transportation previously had publicly disclosed a potential change in schedule or budget. Details first emerged from Moody’s Investors Service, with reports on I-4 Mobility’s financial footing. The state Department of Transportation issued a statement on Thursday, emphasizing that the I-4 Mobility Partners claim remains undetermined. “While the claim is being reviewed, construction activities are continuing and the contractor is...

Companies kept up the hiring pace in March, adding 241,000 positions as employment in construction and manufacturing surged, according to a report Wednesday from ADP and Moody’s Analytics. Economists surveyed by Reuters had been expecting the report to show that private payrolls had gained by 205,000. This was the fifth straight month that the ADP/Moody’s count showed private payrolls up by at least 200,000, though March saw a slight decline from the upwardly revised 246,000 in February. On a year-over-year basis, March 2018 nearly doubled the 122,000 total from the previous year. “The job market is rip-roaring,” Mark Zandi, Moody’s...

From Tyler Durden: Back in 2011, Standard & Poors’ shocked the world, and the Obama administration, when it dared to downgrade the US from its vaunted AAA rating, something that had never happened before (and led to the resignation of S&P’s CEO and a dramatic crackdown on the rating agency led by Tim Geithner). Nearly seven years later, with the US on the verge of another government shutdown and debt ceiling breach (with the agreement reached only after the midnight hour, literally) this time it is Warren Buffett’s own rating agency, Moody’s, which on Friday morning warned Trump that he...