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A motorcycle rider with American flag fluttering passes crowds during the 32nd Annual, and possibly final, Rolling Thunder "Ride for Freedom" during Memorial Day weekend to support veterans and call attention to POWs and MIAs, in Washington, U.S., May 26, 2019. REUTERS/Mike Theiler - RC1E16243AD0
Credit rating agency Fitch no longer forecasts a U.S. recession this year due to several signs of strength in the economy, Fitch Ratings’ Chief Economist Brian Coulton said in a webinar on Wednesday.
The Federal Reserve is likely to cut interest rates three times in 2024, he said.
Fitch last year downgraded the U.S. government’s top credit rating to AA+ from AAA, citing fiscal deterioration and repeated down-to-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.
(Reporting by Davide Barbuscia and Matt Tracy)
