{"id":1988812,"date":"2023-08-02T14:48:01","date_gmt":"2023-08-02T18:48:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fitch-credit-downgrade-puzzling-and-unwarranted-yellen-says\/"},"modified":"2023-08-02T14:49:46","modified_gmt":"2023-08-02T18:49:46","slug":"fitch-credit-downgrade-puzzling-and-unwarranted-yellen-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fitch-credit-downgrade-puzzling-and-unwarranted-yellen-says\/","title":{"rendered":"Yellen finds Fitch credit downgrade &#8216;confusing&#8217; and &#8216;unjustified&#8217;."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffitch-credit-downgrade-puzzling-and-unwarranted-yellen-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1988812&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Treasury Secretary Janet Yellen Criticizes \u2064Fitch Ratings&#8217; Downgrade of U.S. Economy<\/h2>\n<p>Treasury Secretary Janet Yellen expressed \u2063her strong disagreement with Fitch Ratings&#8217; decision to downgrade the U.S.\u2064 economy to \u200ba &#8220;AA+&#8221; rating in remarks delivered on Wednesday. Fitch had announced the downgrade on Tuesday evening, citing partisan\u200c budget disputes and \u2062the growing U.S. debt as reasons for dropping the \u200ccountry from\u200b its previous &#8220;AAA&#8221; rating.<\/p>\n<h3>The Mixed Messages of Bidenomics<\/h3>\n<p>Yellen&#8217;s comments echoed her <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/3-americans-found-dead-at-bahamas-resort-idd-cause-remains-mystery\/\" title=\"3 Americans Found Dead At Bahamas Resort ID\u2019d; Cause Remains Mystery\">initial statement released<\/a> on Tuesday night,\u2063 where she called Fitch&#8217;s decision puzzling and unwarranted. In \u2062her prepared remarks, she emphasized\u2064 the economic \u2063strength of the United States and criticized Fitch&#8217;s flawed assessment, which she believed was based\u200d on outdated data.<\/p>\n<p>Yellen highlighted\u2064 the improvements seen across \u200dvarious\u2064 indicators, including governance, over the \u200dpast two and a half years. She pointed out that despite political gridlock, both parties had \u2062come together to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morning-wire-u-s-veterans-take-afghanistan-evacuation-into-their-own-hands-texas-house-passes-election-integrity-law-mississippi-threatens-new-covid-restrictions\/\" title=\"Morning Wire: U.S. Veterans Take Afghanistan Evacuation Into Their Own Hands, Texas House Passes Election Integrity Law, Mississippi Threatens New COVID Restrictions\">pass legislation addressing<\/a> the debt limit \u200cand making\u2063 significant investments in\u2062 infrastructure and American competitiveness.<\/p>\n<p>The \u2062Treasury Secretary also emphasized President Joe Biden&#8217;s commitment \u200dto fiscal responsibility and \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fitch-credit-downgrade-puzzling-and-unwarranted-yellen-says\/\" title=\"Yellen finds Fitch credit downgrade 'confusing' and 'unjustified'.\">outlined positive economic indicators achieved<\/a> under his leadership. She mentioned the historic\u200d recovery of the American\u200d economy from the pandemic downturn,\u2063 the creation of over 13 million new jobs since January 2021, \u200ca <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-countries-that-escaped-poverty-by-promoting-capitalism\/\" title=\"5 Countries That Escaped Poverty By Promoting Capitalism\">low unemployment rate<\/a> of 3.6 percent, and a decline in overall annual inflation \u200bfor the past year.\u200b Yellen concluded by asserting that the United States remained the world&#8217;s largest,\u2063 most dynamic, and most innovative economy with a robust financial system.<\/p>\n<p>&#8220;At the end of the day, Fitch&#8217;s decision does not \u200bchange what all of us already know,&#8221;\u200c Yellen declared. &#8220;That Treasury securities\u200b remain \u2062the world&#8217;s preeminent safe and liquid asset, \u2062and\u200d that the American economy is fundamentally strong.&#8221;<\/p>\n<p>White House press secretary Karine \u2064Jean-Pierre also <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nrsc-demands-embattled-democrats-condemn-biden-for-criticizing-affirmative-action-ruling\/\" title=\"NRSC calls on troubled Democrats to denounce Biden's criticism of affirmative action ruling.\">expressed strong disagreement<\/a> \u200bwith Fitch&#8217;s\u200d decision, stating that the ratings model used by Fitch \u2062had declined under President Trump and improved under President Biden. She criticized Republican officials for their\u200b extremism, which she \u200dbelieved posed a continued threat to the economy, including cheerleading default, undermining governance and democracy, and advocating for deficit-busting tax giveaways for the wealthy and corporations.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\">Click here<\/a> to read more \u200dfrom The Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen criticized Fitch Ratings for downgrading the U.S. economy to &#8220;AA+&#8221; due to budget disputes and increasing debt. Yellen&#8217;s remarks on Wednesday highlighted the conflicting signals of Bidenomics.<\/p>\n","protected":false},"author":1,"featured_media":1988813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1988812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1988812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1988812"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1988812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1988813"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1988812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1988812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1988812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}