Janet Yellen on the U.S. government debt downgrade by Fitch

I strongly disagree with Fitch's decision.  The change announced today is arbitrary and based on outdated data.  Fitch's quantitative ratings model declined markedly between 2018 and 2020 - and yet Fitch is announcing its change now, despite the progress that we see in many of the indicators that Fitch relies on for its decision.  Many of these measures, including those related to governance, have shown improvement over the course of this administration, with the passage of bipartisan legislation to address the debt limt, invest in infrastructure and make other investments in America's competitiveness.

~ Janet Yellen, Treasury Secretary, August 1, 2023