Fitch Reaffirms US 'AA+' Credit Rating, Warns Of Growing Debt Burden: 'Tax Cuts Will Be Extended Under Either Trump Or Harris'
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
U.S. Credit Rating and Economic Outlook: Fitch Ratings has reaffirmed the U.S. sovereign credit rating at ‘AA+’ with a stable outlook, highlighting strengths such as high per capita income but expressing concerns over escalating debt and political polarization that could lead to economic vulnerabilities.
Projected Economic Growth and Debt Levels: Fitch forecasts a deceleration in U.S. economic growth to an average of 2.1% in 2024, with government debt expected to rise to 124.4% of GDP by 2026, while anticipating minimal changes in fiscal policy under the new administration.
Analyst Views on SPY
Wall Street analysts forecast SPY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
