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Economic Times | 02 Aug, 2020 | 08.02AM IST
News Updates Live: Fitch Ratings downgrades American economic outlook to 'negative'
The downgrade is due to the ongoing deterioration in the US public finances and the absence of a credible fiscal consolidation plan amid the COVID-19 pandemic, Fitch Ratings said in a statement.
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"There is a growing risk that US policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic has passed," Fitch Ratings said in a statement.
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