Credit rating agency Moody's (NYSE: MCO) saw business get a boost over the past two years, as low interest rates and favorable market conditions drove record levels of bond and debt issuance. Investors have grown more concerned about inflationary pressures, and the Federal Reserve has discussed raising interest rates for the first time since the COVID-19 pandemic began. While the pandemic wreaked havoc on markets, the Federal Reserve's response of slashing interest rates and other easy monetary policies drove rapid debt issuance for companies.