Biden economic adviser says U.S. credit rating downgrade "doesn't make much sense"
Fitch Ratings, one of three major credit firms, downgraded the U.S. credit rating from AAA to AA+ on Tuesday. The Dow Jones, Nasdaq and S&P 500 all closed in the red one day after the news. Bharat Ramamurti, National Economic Council deputy director, joined CBS News to discuss how the Biden administration is reacting to the downgrade.