Comment on Economists Warn Of 'Turmoil' Amid Threat Of U.S. Credit Downgrade

Economists Warn Of 'Turmoil' Amid Threat Of U.S. Credit Downgrade

Major credit rating agencies have called the reliability of American government debt into question, warning that they could issue a punishing series of downgrades if Congress does not increase borrowing authority by early August.A downgrade of U.S. credit, unthinkable not long ago, is now a real possibility. Even a brief debt default would prompt Moody's Investors Service to dock the government's sterling rating, the agency said Wednesday in a release.

 

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