U.S Gov's Credit Score Just Dropped

Fitch, one of the three top credit rating agencies in the world, recently downgrade U.S treasury ratings from AAA to double A+. The announcement of this market had very little effect on the market. However, this does not mean the long term consequences of this move won't be profound. The first long term consequence of this will be that high interest rates are here to stay. More importantly however, considering the fact Janet Yellen openly declared a U.S default if the debt ceiling isn't raise; we can see that this credit rating from Fitch is a ruse in of itself.

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