S&P downgrade roils markets, worries consumers
Standard and Poor’s downgrade of the United States’ credit rating on Friday, for the first time in history, brought condemnation from government officials, and fears of market turmoil. S&P’s managing editor, John Chambers, told ABC News’ “This Week” that there was a one in three chance of a further downgrade. He also said that the U.S. could regain its AAA rating, but warned that it may take as long as two decades – if it happens at all. Mark Zandi, chief economist at Moody’s Analytics, and Louise Story, Wall Street and finance reporter for The New York Times, talk about what impact the downgrade will have on the U.S. economy.
Without federal support, local stations, especially in rural and underserved areas, face deep cuts or even closure. Vital public service alerts, news, storytelling, and programming like The World will be impacted. The World has weathered many storms, and we remain steadfast in our commitment to being your trusted source for human-centered international news, shared with integrity and care. We believe public media is about truth and access for all. As an independent, nonprofit newsroom, we aren’t controlled by billionaire owners or corporations. We are sustained by listeners like you.
Now more than ever, we need your help to support our global reporting work and power the future of The World.