Yellen Calls Fitch Downgrade of US Credit Rating ‘Flawed’
- Fitch cut the US rating to AA+, citing rising budget deficits
- Yellen has played down concerns about US deficit path
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Treasury Secretary Janet Yellen on Wednesday slammed the move by Fitch Ratings to strip the US of its top-tier credit rating, calling it “flawed” and “entirely unwarranted.”
“Fitch’s decision is puzzling in light of the economic strength we see in the United States,” Yellen said in remarks prepared for an event in McLean, Virginia.