The banks that suffered S&P Global's cuts were Comerica (CMA), Associated Banc-Corp (ASB), KeyCorp (KEY), Valley National Bancorp (VLY), and UMB Financial (UMBF). But another one-notch downgrade of the industry’s score from AA- to A+ would lead Fitch to reevaluate ratings on each of the more than 70 U.S. banks it covers, Wolfe told CNBC in mid-August. Federal Reserve Chair Jerome Powell emphasized the need for continued vigilance in the battle against inflation in a meeting in Jackson Hole, Wyo on Aug 25.