By: Diane Benjamin

Fitch downgraded the US credit yesterday: https://www.msn.com/en-us/money/other/shock-u-s-credit-rating-downgrade-by-fitch-rings-alarm-bells-about-economy/ar-AA1eGOTE

This is a quote from the story:

According to the company, despite the fact that the debt ceiling standoff was resolved two months ago, “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management.“

Let me interpret:

Fitch would rather see no discussions of budget cuts. Fitch doesn’t care if the US debt goes to $50 trillion as long as politics plays no role in controlling spending. Everybody is expected to play nice.

On a side note: Fitch is the only rating agency that has Normal at AAA. The reason is exactly the same.