CNN —There may not be any lasting major negative ramifications from the surprise US credit rating downgrade by Fitch this week — not for the economy, not for consumers and not for the government’s ability to borrow.
Normally, when your credit score as a consumer falls — or your credit rating as a country — there are negative consequences.
Here’s why the United States is unlikely to see that kind of impact from the Fitch downgrade.
The downgrade wasn’t a huge dropFitch cut its US credit rating to AA+ from what had been a sterling AAA rating.
“Fitch’s credit rating is an expression of the probability of a default.
Persons:
You’re, Fitch, “, brinkmanship, Marc Goldwein, you’re, ”, Mark Zandi, Yellen, Jamie Dutta, Dutta, ” George Mateyo, ” Mateyo, ” José Torres, Torres, it’s, ” Torres, Uncle Sam, CRFB, – CNN’s Krystal Hur, Allison Morrow
Organizations:
CNN, Fitch, AAA, Committee, U.S . Treasury, Moody’s, AA, “, Vantage, Key Private Bank, Federal Reserve, Interactive Brokers, Moody’s Investors Service, Treasury, Congressional, Social Security
Locations:
United States, States, corporates, United