The Fitch Ratings downgrade of the United States long term credit rating ultimately doesn’t matter, JPMorgan Chase
CEO Jamie Dimon told CNBC on Wednesday. “It doesn’t really matter that much,” Dimon told CNBC’s Leslie Picker. “They point out some issues which we all knew about.” Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden.
It is “ridiculous” that other countries, including Canada, are rated higher than the U.S. when they depend on the stability created by the U.S. and its military, Dimon added.
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