1 - Moody's: Widening income inequality will weigh on US credit profile
Rising income and wealth inequality is a key social consideration that will affect the credit profile of the United States (Aaa stable) through multiple rating factors, including economic, institutional and fiscal strength, Moody's Investors Service says in a new report. While income inequality has generally increased across advanced economies since 2000, it is materially higher and wealth is significantly more concentrated in the US.
Since 1995, the top 10% of US income earners have experienced an overall median net worth increase of close to 200%, while the bottom 40% of income earners have seen a decline. There has been a particularly sharp increase in wealth and income inequality ratios since the global financial ...
As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.