On August 1, 2023, Fitch Downgraded the United States' Long-Term Ratings to AA+ from AAA. According to Fitch, the rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions. The downgrade applies to U.S. Treasury securities. Questions: 1. Is this downgrade is significant? 2. Will the downgrade impact the yield on Treasury securities over the long-term? 3. How should the U.S. government react to this downgrade