Warren Buffett says he’s not worried about Fitch’s U.S. downgrade

Warren Buffett shrugged disconnected Fitch's U.S. downgrade, noting it doesn't alteration what his conglomerate, Berkshire Hathaway, is doing astatine the moment.

"Berkshire bought $10 cardinal successful U.S. Treasurys past Monday. We bought $10 cardinal successful Treasurys this Monday. And the lone question for adjacent Monday is whether we volition bargain $10 cardinal successful 3-month oregon 6-month"  T-bills, Buffett told CNBC's Becky Quick.

"There are immoderate things radical shouldn't interest about," helium said. "This is one."

On Tuesday, Fitch lowered its semipermanent overseas currency issuer default standing for the U.S. to AA+ from AAA. The ratings steadfast cited "expected fiscal deterioration implicit the adjacent 3 years," increasing indebtedness and an erosion of governance.

The downgrade sparked a sell-off successful U.S. stocks. The S&P 500 fell 1.4% connected Wednesday.

Buffett noted that these concerns are valid, and the Oracle of Omaha said helium doesn't hold with everything the national authorities is doing. That said, it's not capable to alteration his views connected U.S. Treasurys and the dollar.

"The dollar is the reserve currency of the world, and everybody knows it," Buffett said.