Standard & Poor’s credit rating agency on Monday revised its outlook for the U.S. credit from Negative to Stable as of 8:50 am EDT. The revision applies to the United States of America, the Federal Reserve System and the Federal Reserve Bank of New York. The credit rating for all these entities remained AA+, the agency's second-highest rating.
S&P said that despite the fact that "the ability of elected officials to address the country's medium-term fiscal challenges has decreased in the past two decades," they see "tentative improvements" on the political and economic sides. They also said they viewed U.S. policy-making institutions as "generally strong" and the economic stucture "adaptable and resilient."
"We believe that the U.S. monetary authorities have both the strong ability and willingness to support sustainable economic growth and to attenuate major economic or financial shocks," the release said. "As a result, we expect the U.S. dollar to retain its long-established position as the world's leading reserve currency. ... We believe the Federal Reserve System has strong control over dollar liquidity conditions."