President Trump has made his disapproval of Fed Chair Jerome Powell quite clear over the past few months, blaming him for costing the U.S. billions of dollars by not reducing interest rates. On Thursday, he directed yet another Truth Social post at Powell.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
“‘Too Late’ DEMEANS THE GREAT CREDIT OF THE USA. We are now, again, the Number One Credit in the World! ‘Gigantic Comeback.’ The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!” said Trump.
What is the U.S.’ Credit Rating?
Trump’s statement isn’t exactly accurate, as the U.S. doesn’t have the highest credit rating in the world. The U.S. has the world’s second-highest credit rating, tied with five other countries, based on S&P Global’s (SPGI) rating. Moody’s (MCO) also assigns the U.S.—tied with Austria and Finland—the world’s second-highest rating. In May, Moody’s shocked the markets after lowering the U.S. credit rating to Aa1 from Aaa. Aaa is Moody’s highest possible credit rating.
According to TipRanks’ Trump Dashboard, Bank of America (BAC), JPMorgan Chase & Co. (JPM), Goldman Sachs (GS), and three other stocks will likely be affected by Trump’s post.
