Warren Buffett dismissed Fitch’s U.S. credit rating downgrade, stating that it has no impact on the current activities of his conglomerate, Berkshire Hathaway. He emphasized that Berkshire recently purchased $10 billion in U.S. Treasurys and plans to continue investing in Treasury bills. Despite valid concerns about fiscal deterioration and debt, Buffett remains confident in U.S. Treasuries and the strength of the dollar. He acknowledged his disagreement with certain government actions but affirmed that the dollar remains the world’s reserve currency. Fitch’s downgrade led to a stock sell-off, with the S&P 500 declining by 1.4% on Wednesday. However, Buffett assured that these issues should not be a cause for worry.
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