MADISON, WI (August 7, 2023) — The narrative around the U.S. economy is changing in ways that often feel contradictory. On one hand, there are signs that we may not be facing a recession after all — but on the other, Fitch Ratings recently downgraded the U.S.’s long-term credit rating from AAA to AA+. What factors are contributing to these changes? What does this downgrade mean for consumers and for the country as a whole? Are other countries moving away from the dollar — and if so, why? What does all this mean for future economic growth and personal financial stability?
On the next UW Now Livestream, a discussion about the decision of this ratings agency and how it impacts you. The program will be moderated by Mike Knetter, CEO of the Wisconsin Foundation and Alumni Association.
Featured guests:
Menzie Chinn, PhD, is a professor of public affairs and economics in the La Follette School of Public Affairs. His research examines the empirical and policy aspects of macroeconomic interactions between countries. He is coauthor of the book “Lost Decades: The Making of America’s Debt Crisis and the Long Recovery” (W. W. Norton, 2011). In 2015, he received the Leon D. Epstein Distinguished Faculty Research Award. Chinn has been a visiting scholar at the International Monetary Fund, the Congressional Budget Office, the Federal Reserve Board, the European Central Bank, and the Banque de France. He is coeditor of the Journal of International Money and Finance, and an associate editor of the Journal of Money, Credit and Banking. His work has been cited in The Economist, Financial Times, Reuters, Wall Street Journal, Business Week, and he has been interviewed on CNBC, NPR, and Minnesota Public Radio. In 2000 and 2001, he served as senior staff economist for international finance on the Council of Economic Advisers.
Dana Peterson is the chief economist and center leader of economy, strategy, and finance at The Conference Board, a 501(c)(3) nonprofit business membership and research group organization that conducts economic and business management research. In her work, she analyzes global economic themes having direct financial market implications, including monetary policy; fiscal and trade policy; debt; taxation; environmental, social, and governance investing; and demographics. Peterson’s research covering rates, equities, credit, foreign exchange, commodities, political analysis, and asset allocation has been featured by U.S. and international news outlets, both in print and broadcast. Previously, Peterson worked for Citi Bank, where she served as a North America economist and a global economist. She has also worked at the Federal Reserve Board in Washington, DC. She is a 2023 recipient of the Luminary Award from the Wisconsin Alumni Association.
When: Tuesday, August 8, at 7 p.m. CDT
Virtual Presentation: https://www.youtube.com/live/CtoD-kKcCoo?feature=share
