JPMorgan’s Dimon says Fitch Ratings U.S. downgrade ‘doesn’t really matter’: CNBC

Investing.com — JPMorgan chief executive Jamie Dimon on Wednesday described the Fitch Ratings downgrade of the U.S. government’s long-term debt rating as “ridiculous,” saying the “it doesn’t really matter” as it was based on factors that were already well known.  

“It doesn’t really matter that much,” Dimon told CNBC’s Leslie Picker in an interview Wednesday. “They point out some issues which we all knew about.”   

Fitch on Tuesday downgraded the United States to AA+ from AAA on worries about fiscal deterioration over the next three years and a “high and growing general government debt burden, and the erosion of governance” relative to similar peers.  

U.S. Treasury Secretary Janet Yellen said the downgrade was flawed and “based on outdated data, including those related to governance, that we’ve seen over the past two and a half years.”

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