US states expecting slower growth in wake of Fed cut, Fitch says

seekingalpha09-20

US state budget planners are expecting slower growth in the wake of the Fed’s 50-basis-point interest rate cut, according to Fitch Ratings. The firm’s analysts are expecting “a sizeable slowdown in ...

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The firm’s analysts are expecting “a sizeable slowdown in ...</p>\n\n<a href=\"https://seekingalpha.com/news/4151420-us-states-expecting-slower-growth-in-wake-of-fed-cut-fitch-says\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US states expecting slower growth in wake of Fed cut, Fitch says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS states expecting slower growth in wake of Fed cut, Fitch says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-20 05:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4151420-us-states-expecting-slower-growth-in-wake-of-fed-cut-fitch-says><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>US state budget planners are expecting slower growth in the wake of the Fed’s 50-basis-point interest rate cut, according to Fitch Ratings.  The firm’s analysts are expecting “a sizeable slowdown in ...</p>\n\n<a href=\"https://seekingalpha.com/news/4151420-us-states-expecting-slower-growth-in-wake-of-fed-cut-fitch-says\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IEI","symbol_name":"iShares Barclays 3-7 Year Trea","start_time":0,"source_url":"https://seekingalpha.com/news/4151420-us-states-expecting-slower-growth-in-wake-of-fed-cut-fitch-says","article_id":"2468163674","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1359360000/image_1359360000.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468163674","pubTimestamp":1726782629,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"US state budget planners are expecting slower growth in the wake of the Fed’s 50-basis-point interest rate cut, according to Fitch Ratings.  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The firm’s analysts are expecting “a sizeable slowdown in growth” next year and more Fed cuts through 2026. The labor market and job growth are slowing already, and that appears probable for state budgets as well, Fitch said.  “Managing expenditures to revenues is nothing new to states, but the pandemic was an extraordinary outlier that states had to adjust to in the moment,” Fitch Senior Director Karen Krop said in a note. “States had already learned the importance of building fiscal resilience during good times from the global financial crisis, and this lesson helped them weather the pandemic.” States for the past few years have avoided negative performance pressure by adding to their coffers and downshifting smoothly from “first booming, then slowing, then normal growth,” she said.  The wave of new state tax cuts seems to be ending after cresting last year, Fitch US Public Finance Senior Direct Eric Kim said.  California, Illinois, and New Jersey recently raised taxes partly to close budget gaps, he added. Idaho and Utah saw job growth of more than 10% above pre-COVID pandemic levels as Hawaii, Louisiana, and Maryland growth was below pre-pandemic levels, he said.  Here are some exchange-traded funds of interest that track bonds: (AGG), (BND), (VCIT), (MUB), (MBB), (JNK), (LQD), (HYG), and (TIP).","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468163674"}