Detailed text transcripts for TV channel - MSNBC - 20120916:17:39:00
Credit rating down a notch. if anything the market res acted inversely. that didn't really hurt our credit outlook at all. in a way i just view these agency downgrades as kind of a commentary on a fiscal path that does look tough. look, in terms of the qe stuff, what my point was this. what these measures by the federal reserve do is they lower the rate of interest. the cost of borrowing in the economy. that's going to help a little bit. but interest rates were already pretty low. many of our firms are already sitting on lots of cash reserves. what's holding the economy back is not the cost of...
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