Shard: No credit rating downgrade for US

The US will see sub-par economic growth over the next few years, says Invesco Perpetual's Andrew Shard, as the government begin to tackle the deficit problem.

However, he says the threat of rating agencies cutting the US's credit rating will "probably not come to pass". The US equity fund manager has defended the US government's decision to stimulate growth, rather than address its deficit problems, but says there are now signs it is moving on from that. "The days of deficit growth and political complacency are drawing to a close, and it is vital we see robust legislation put in place over the next few months to address these issues. "In terms of growth, there is a knock-on effect for US growth; any austere, robust legislation has to be ...