Not rating it right

Moody's Investors Service appears to have put US policymakers, who are battling to find a solution to the country's economic woes, to a more severe test by warning that the United States could lose its top-notch credit rating in the next few weeks if Congress does not agree to raise the federal debt ceiling.

But the warning appears soft compared with the way Moody's has dealt with European economies.

US Federal Reserve Chairman Ben Bernanke has hinted at playing his trump card - the third round of quantitative easing, or the infamous QE3 - although it may not prove to be effective.