Fitch Possible US Credit Downgrade After $6 Trillion Stimulus, Mnuchin Jobless Claims Not Relevant (Video)
Fitch Possible US Credit Downgrade After $6 Trillion Stimulus, Mnuchin Jobless Claims Not Relevant Video by Silver Report
Fitch Ratings has come out to express the US AAA credit rating may face near-term negative action as a result of the $6 Trillion dollar stimulus package.
The debt is the real problem according to Fitch and they also warned the Dollar’s role as the world reserve currency may be coming to an end as recent money printing tactics and world dollar liquidity squeeze continues to strain the global economy.
Steven Mnuchin responded to the record 3.3 million jobless claims on the most recent report by stating “To be honest with you, I just think these numbers right now are not relevant, whether they are bigger or smaller in the short-term,” I’m not sure those who have lost their jobs would agree.
I know they would like to think a check for $1,200 would save the US from the greatest depression but it is only a drop in the bucket compared to the expected 25 million job losses. Money Printing Matters! even at 0% interest rates.