The fallout from Fitch’s downgrade continuesStocks appear set to open lower today, after falling yesterday in the wake of Fitch Ratings downgrading the United States’s AAA credit rating.
But others have said Fitch’s move, while largely symbolic, still points to long-term troubles for the nation and its fiscal health.
“There is no willingness on any side to really tackle the underlying challenges,” Mr. Francis said.
But “it doesn’t really matter much,” Jamie Dimon, JPMorgan Chase’s C.E.O., told CNBC yesterday, echoing a common refrain to Fitch’s move.
Critics of the move noted that according to criteria laid out last year by Fitch itself, including debt-to-G.D.P.
Persons:
Richard Francis, Fitch’s, standoffs, ” Mr, Francis, ” Jamie Dimon, JPMorgan Chase’s, Fitch
Organizations:
Fitch, United States’s AAA, Wall, U.S, Times, JPMorgan, CNBC
Locations:
U.S