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Fitch downgrades US credit rating from AAA to AA+. Major independent agency said it had noted a "steady deterioration" in governance over the last 20 years. (www.bbc.com)

submitted 2 years ago* (last edited 2 years ago) by mxwarp to c/personalfinancecanada

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Treasury Secretary Janet Yellen called the downgrade "arbitrary".

“Fitch’s decision does not change what Americans, investors & people all around the world already know: that Treasury securities remain the world’s preeminent safe & liquid asset, and that the American economy is fundamentally strong,” Yellen has said.

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[–] Rentlar 6 points 2 years ago (1 children)

I mean it's reflective of the actions of Wall Street and the Federal Reserve over the last 20 years (and primarily under Republican presidents)

[–] MacroCyclo 2 points 2 years ago

You mean the low rates and high spending?