As Monday is set to begin, Wall Street will open for the first time since the S&P downgraded the U.S. National Debt. Despite fears of major 401K losses and interest rate hikes, it’s important to calm the emotions and take a deep breath. The fact that Standard and Poor’s downgraded the U.S. debt to a AA+ rating is relative to our debt. It does not hurt the earnings of any company which is how the stock prices are determined. Ed Butowsky, managing partner of Chapwood Investment Management, joins WFAA in their newsroom to discuss how this downgrade will affect the U.S. economy and of course your money.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Check out some of our other articles:
- Markets Remain Uncertain As Congress Can’t Make A Deal On Debt
- How to inflation proof your portfolio
- Copper & Silver Surging
- The Debt Deal and You
Tags: aa+, bonds, credit rating, downgrade, economy, fox business, gold, market, money, rates, s and p, sell off, standard and poors, stocks, wall street