IMF: Ease Off Spending Cuts to Boost U.S. Recovery

The U.S. could spur growth by adopting a more balanced and gradual pace of fiscal consolidation, the International Monetary Fund said after wrapping up its annual review of the U.S. economy.

Moody’s Downgrades UK’s Triple-A Rating

Moody’s said it downgraded the domestic- and foreign-currency government bond ratings of the UK by one notch to Aa1 from Aaa. Moody’s said one of the drivers was continued weakness in the UK’s medium-term outlook.