Treasury Sec. Yellen condemns Fitch’s downgrade of US credit rating as ‘entirely unwarranted’

Treasury Secretary Janet Yellen criticized Fitch Ratings’ downgrade of the United States long-term credit rating from AAA to AA+ as an “entirely unwarranted” move. “Its flawed assessment is based on outdated data and fails to reflect improvements across a range of indicators, including those related to governance that we’ve seen over the past two and a half years,” Sec. Yellen said during a press briefing at an IRS facility in Virginia on Wednesday.