Yellen Slams 'Entirely Unwarranted' Fitch US Downgrade

The transcript discusses a disagreement with Fitch's decision, citing outdated data and improvements in governance. It highlights bipartisan efforts to address the debt limit and invest in infrastructure, emphasizing fiscal responsibility. The IRS modernization project aims to reduce the deficit by enforcing tax compliance among wealthy taxpayers. Despite Fitch's decision, the American economy remains strong, with Treasury securities as a safe asset.

What is the significance of the IRS modernization project discussed in the text?

According to the text, what remains the world's preeminent safe and liquid asset?