Fitch affirmed the United States at AA+ with a stable outlook, saying the sovereign rating remains supported by the country’s vast economic scale, high per-capita income and the U.S. dollar’s role as the world’s dominant reserve currency. The agency said the economy has remained resilient despite higher tariffs, government spending cuts, tighter border controls and policy uncertainty, but warned that growth momentum is cooling. Fitch projected U.S. economic growth will average 1.9% from 2026 to 2027, below the 2.8% recorded in 2025, while labor demand has weakened and job creation has slowed significantly. It forecast average inflation of 3.4% this year, above the Federal Reserve’s 2% target, and said the fiscal deficit will widen to 7.4% of GDP this year and remain there next year, the highest among AA-rated sovereigns, as defense spending, interest costs, Medicare and Social Security outlays continue to rise. Fitch first cut the U.S. long-term sovereign rating from AAA to AA+ in 2023 over fiscal deterioration and repeated debt-ceiling standoffs. Moody’s also downgraded the U.S. in May 2025 from Aaa to Aa1, leaving Fitch and S&P Global at AA+ and Moody’s at Aa1. S&P affirmed its AA+ rating and stable outlook in June, citing economic resilience, strong fiscal revenues, tariff receipts and AI-linked corporate investment, while the IMF said tax and spending measures passed in 2025 may lift GDP levels in 2026-2027 but also deepen deficits and push debt higher. The assessments underscore a continuing tension between U.S. economic resilience and mounting fiscal strain.