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Yellen: Negative Moody’s outlook on US is ‘a decision that I disagree with’ on November 14, 2023 at 3:23 pm Business News | The Hill
Treasury Secretary Janet Yellen said she disagrees with the recent move by Moody’s Investors Service’s to shift the U.S. outlook from stable to negative.
“The American economy is fundamentally strong and Treasury securities remain the world’s preeminent safe and liquid asset,” Yellen said Monday following the APEC Finance Ministers’ Meeting in San Francisco.
The Moody’s move is “a decision that I disagree with,” Yellen added.
While the U.S. still has its “AAA” rating from Moody’s, the agency called higher interest rates and the rising debt a risk to America’s fiscal strength.
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability,” Moody’s said in a statement Friday.
The agency also signaled it could move forward with the downgrade the U.S. given ongoing budget deficits and political divides.
“Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability,” the agency said.
Moody’s is the last of the three major ratings firms to maintain a “AAA” rating for the U.S.
Yellen also criticized Fitch Ratings’ decision to downgrade the U.S. from a “AAA” to “AA+” in August following a debt ceiling standoff between President Biden and the Republican-controlled House earlier in the summer.
S&P Global previously downgraded the U.S. to “AA+” in 2011 after a separate debt ceiling fight.
The move came one week before Congress’ second government shutdown deadline in as many months.
Former Speaker Kevin McCarthy (R-Calif.) struck a deal with House Democrats to pass a stopgap funding measure just before the Sept. 30 deadline, which averted a shutdown but resulted in his ousting as speaker and a three-week search for his replacement.
Yellen also called on House Republicans, now led by Speaker Mike Johnson (R-La.), to avoid a government shutdown.
“A shutdown is something that poses an unnecessary economic headwind in a moment when the US economy is doing well and moving in the right direction,” Yellen said.
Business, International, News, Policy, credit, Economy, Janet Yellen, Joe Biden, Kevin McCarthy, Mike Johnson, shutdown, Treasury Treasury Secretary Janet Yellen said she disagrees with the recent move by Moody’s Investors Service’s to shift the U.S. outlook from stable to negative. “The American economy is fundamentally strong and Treasury securities remain the world’s preeminent safe and liquid asset,” Yellen said Monday following the APEC Finance Ministers’ Meeting in San Francisco. The Moody’s…
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Author: Bolanle Media Staff
As a film industry professional, you’re likely no stranger to the hard work and dedication required to bring a project to life. However, you may not be aware of the crucial role film festivals play in advancing your career and the industry as a whole. Let’s revisit the importance of film festivals and how they can benefit you and your work:
Houston Comed Film Festival Feb 2024
Film festivals provide a platform for your work to be seen by a wider audience, including critics, distributors, and industry leaders. This exposure can lead to recognition, awards, and critical acclaim, which can boost your reputation and open doors to new opportunities.
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From the Film Festival Circuit Founder, Mikal Fair:
“Explore the ‘Film Festival Submitter’s Handbook 2024,’ your ultimate guide to conquering the film festival circuit. Whether you’re a filmmaker or screenwriter, this essential resource provides practical strategies to navigate the competitive landscape of film festivals successfully. From crafting compelling titles, taglines, and synopses to creating impactful director’s and writer’s statements, this handbook equips you with the tools to shine in the festival circuit. Learn to develop effective marketing materials, including posters and trailers, and discover the importance of communication and presenting a professional package. With insights tailored to the evolving role of social media and marketing in the film industry, this handbook is your key to festival triumph. Get your copy now and embark on your journey to festival success!”
Author: Bolanle Media Staff
Located in: EADO Workspaces
The Houston Comedy Film Festival is set to return on October 5th, 2024, and it promises to be an exciting day filled with laughter, learning, and networking opportunities for comedy enthusiasts and aspiring filmmakers alike. This year, the festival welcomes Roselyn Omaka as the new festival director, bringing her expertise and innovative vision to the event.
Attendees can look forward to engaging sessions led by industry professionals. Joan Montreuil from The Newbie Film Academy will provide invaluable insights into financing films and raising capital, helping aspiring filmmakers navigate the often complex world of film funding. Meanwhile, Deloris from DD’s Showbiz will host an interactive acting workshop designed to enhance participants’ skills and confidence in front of the camera.
Although LemarKus Tinker from Friday Night Lights won’t be attending in person, he will offer an exciting virtual one-on-one guidance session for aspiring directors. This unique opportunity allows participants to connect directly with him from the comfort of their homes, gaining personalized advice and insights that can help shape their directorial vision. Imagine having a chance to ask questions and receive feedback from a seasoned professional in the industry—this virtual interaction is sure to be a highlight!
In addition to these educational opportunities, festival winners will have the chance to receive valuable resources from sponsors to further improve their films and business outcomes. This support could be the stepping stone that many emerging talents need to make their mark in the competitive world of filmmaking.
The festival kicks off at 12 PM sharp, so attendees are encouraged to arrive 10 minutes early to ensure they don’t miss any of the action. It’s important to note that everyone must purchase a ticket to attend this fantastic event. Tickets are available for $50, which grants full access to all festival activities. Attendees can purchase their tickets through different platforms: filmmakers (not screenwriters) are encouraged to buy their tickets on filmfestivalcircuit.com, while guests and screenwriters should secure their tickets via meetup.com/bolanlemedia. Tickets can also be purchased at the door on the day of the event.
The Houston Comedy Film Festival has been a cornerstone of the independent film community since its inception in 2008 by author and retired filmmaker Mikel Fair. Over the years, it has consistently ranked in the FilmFreeway Top 100, cementing its status as a must-attend event for comedy filmmakers and fans.
Houston Comedy Film Festival Feb 2024
With Roselyn Omaka’s leadership, the star-studded lineup of industry professionals, and the diverse array of films and activities planned, the 2024 Houston Comedy Film Festival is shaping up to be an unmissable experience. Whether you’re an aspiring filmmaker, a comedy enthusiast, or simply looking for a day filled with laughter and learning, this festival has something for everyone.
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Don’t miss out on this fantastic opportunity to immerse yourself in the world of comedy filmmaking. Grab your tickets now and be part of the Houston Comedy Film Festival experience! Join us on October 5th at the Coronation Theatre in Houston for a day of creativity, laughter, and cinematic celebration! Your next big break could be waiting for you!
Author: Bolanle Media Staff
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