How a downgrade to the U.S. credit rating could affect the economy
The government shutdown is starting to raise concerns about Congress’s ability to raise the U.S. debt ceiling and pass a budget — worries that ultimately could affect borrowing costs for consumers and businesses, as well as the overall economy. Over the past week, Fitch Ratings has said the shutdown could lead to lawmakers’ failure to raise the nation’s debt limit, or borrowing authority, later this year. That, in turn, could well prompt Fitch, and other credit rating agencies, to lower the country’s triple-A sovereign rating. And that ...
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