Billionaire investor Warren Buffett remains unfazed by Fitch Ratings’ decision to downgrade the U.S. credit rating from AAA to AA+. In an interview with CNBC, Buffett stated that the downgrade would not impact Berkshire Hathaway Inc.’s Treasury-buying plans.
According to Buffett, Berkshire Hathaway recently purchased $10 billion in U.S. Treasury bonds and is considering whether to buy an additional $10 billion in 3-month or 6-month Treasuries.
Despite the downgrade, Buffett maintains his positive view on Treasuries and the dollar, emphasizing that Fitch’s decision does not change his perspective.
Buffett’s nonchalant response to the credit rating downgrade reflects his confidence in the stability of the U.S. economy and his unwavering belief in the long-term value of Treasury bonds.
This news comes amidst continued speculation and debate about the impact of the recent credit rating downgrade on the U.S. economy and financial markets. While some analysts express concerns about potential consequences, Buffett’s remarks provide a counterpoint, suggesting that the downgrade may not have a significant impact on investors’ decisions.
This article is translated from MarketWatch, which operates independently of Dow Jones Newswires and The Wall Street Journal.