S&P’s credit rating cut: Downgrading our politics | The Economist

Standard & Poor’s decision to downgrade America’s credit rating on Friday is momentous, but not, I suspect, for the reasons most people will cite. Many worried that interest rates would skyrocket and the markets sell off. This seems unlikely. The news won’t be a surprise and S&P was kind enough to dampen any impact by waiting until after the markets closed. There are very few investors who will be compelled to sell Treasury debt because it’s …

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