Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Moody's Revises U.S. Outlook On Deficit To Stable
NEW YORK (7/22/13)--Moody's Investors Service has upwardly revised the U.S.'s Aaa credit-rating outlook to stable from negative.
 
The move was made because the federal government's deficit--or "debt trajectory"--has stabilized due to narrowing budget deficits (Bloomberg.com July 19).
 
"While moderate," growth in the economy is progressing in an environment in which the government has instituted spending reductions and tax increases, the New York-based Moody's said Friday in a statement.
 
The negative outlook was first assigned in August 2011 when Moody's warned it could downgrade the U.S. for the first time because of concerns the economy was weakening and fiscal discipline was dissipating, Bloomberg said.
 
This year's fiscal deficit will be the smallest since 2008. The economy is predicted to grow in 2014 at the fastest pace since 2006, said the Congressional Budget Office (CBO).
 
The U.S. budget deficit likely will fall to roughly 2.1% of gross domestic product in 2015 from 4% this year and 7% in 2012, owing to increased tax revenue and less spending, said the CBO.
RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
3 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
4 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
4 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
4 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
5 hours ago