Rising interest rates, shaky markets, and higher borrowing costs could all follow Moody's historic downgrade of the U.S.

An economist explains why the recent credit rating downgrades for major U.S. banks might not carry a big impact.

An economist explains why the recent credit rating downgrades for major U.S. banks might not carry a big impact.

Moody's has downgraded deposit ratings of top US lenders JPMorgan Chase, Bank of America and Wells Fargo just days after stripping the nation of its triple-A rating.