Janet Yellen criticizes Fitch's downgrade of U.S. credit as ‘entirely unwarranted' and insists the country has the world's 'most dynamic' economy

Treasury Secretary Janet Yellen on Wednesday slammed the move by Fitch Ratings to strip the US of its top-tier credit rating, calling it “flawed” and “entirely unwarranted.” “Fitch’s decision is puzzling in light of the economic strength we see in the United States,” Yellen said in remarks prepared for an event in McLean, Virginia. In the longer term, the US “remains the world’s largest, most dynamic, and most innovative economy – with the strongest financial system in the world.” Yellen’s criticism is an echo of predecessor Timothy Geithner’s almost exactly...