Fitch Cuts U.S. Long-Term Ratings From 'AAA' to 'AA+'

The transcript discusses Fitch's concerns about the growing US budget deficit, which is expected to rise significantly, leading to a rating downgrade. It highlights the erosion of governance and frequent debt ceiling standoffs that have impacted markets. The Treasury's increasing bond sales and market concerns are also addressed, with Janet Yellen disagreeing with Fitch's decision. The transcript concludes with the Fitch rating's implications for the market, noting that Moody's is the only agency maintaining a top rating for the US.

What is Janet Yellen's stance on the Fitch rating downgrade?

What does the text suggest about the future of US Treasury funding?