Assessing the United States’ policy response to the coronavirus outbreak, “the US fiscal strength will deteriorate faster than expected, driven by much larger fiscal deficits and weaker growth,” Moody’s Investors Services said on Monday. “Although Moody’s expects these measures to help limit the depth of the economic shock, downside risks to growth are high, due to potentially higher rates of unemployment and business closures,” Moody’s added in its report. “As a result of the very large increase in fiscal stimulus spending and likely marked decline in revenues due to the economic contraction and surge in unemployment, we expect the 2020 federal fiscal deficit to reach nearly 15% of GDP in 2020, from 4.6% in 2019.” Market reaction Wall Street’s main indexes continue to push higher on Monday despite Moody’s gloomy outlook. As of writing, the Dow Jones Industrial Average was up 4.75% on the day while the S&P 500 and the Nasdaq Composite were adding 4.7% and 4.5%, respectively. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold rallies to near 4-week tops, around $1650 region FX Street 2 years Assessing the United States' policy response to the coronavirus outbreak, "the US fiscal strength will deteriorate faster than expected, driven by much larger fiscal deficits and weaker growth," Moody’s Investors Services said on Monday. "Although Moody's expects these measures to help limit the depth of the economic shock, downside risks to growth are high, due to potentially higher rates of unemployment and business closures," Moody's added in its report. "As a result of the very large increase in fiscal stimulus spending and likely marked decline in revenues due to the economic contraction and surge in unemployment, we expect the 2020 federal… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
