Fitch Ratings said it confirmed the US rating as AA + with a stable outlook. The US rating is supported by structural strengths and constrained by deficits, interest burden and debt. The Federal Reserve is expected to make its first rate cut in September. Despite differences in economic objectives between US Vice President Harris and former US President Trump, it remains confident that the underlying fiscal position of the US will remain largely unchanged. The continued rise in the US public debt burden will increase vulnerability to shocks to the economy and confidence.