Moody's downgrades outlook on U.S. banking system to negative

U.S. credit rating firm Moody's has cut its outlook on the entire US banking system from stable to negative. Inflation in the U.S. is still rising at a fast pace after eight rate hikes from the Federal Reserve. The European Union has proposed wide-ranging reforms of its electricity market to accelerate a surge in renewables and to phase out the use of fossil fuels.