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Inflation may have shaken the US creditworthiness narrative
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labour market report that increased wagers on tighter monetary policy. All told, it’s hard to get worked up about the near-term implications of the latest downgrade.
But it’s telling that one of the most popular defences of America’s creditworthiness has finally lost its rhetorical potency. If anything, that’s a sign that America should stop reaching for flimsy intellectual excuses and face its fiscal challenges head on.
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