debt ceiling

House Speaker Kevin McCarthy (R-Calif.) announced Monday night at a press conference that the meeting today with President Joe Biden about the national debt ceiling was productive, though no agreement was reached. Joining McCarthy at the press conference was House Financial Services Chairman...

President Joe Biden will meet House Speaker Kevin McCarthy at 5:30 p.m. ET  Monday to discuss the debt ceiling and attempt to reach a deal as a June 1 goverment default deadline approaches.  Markets are anxiously awaiting evidence of a bipartisan compromise over the...

The S&P 500 Index may have reached the finish line of the rally that started in October 2022, after breaking above the 4,200 threshold last week. That's the opinion of Morgan Stanley's Equity Strategist Michael Wilson, who sees no evidence of a fresh bull market for the...

Investors and traders are bracing for potential volatility in currencies and losses in equities as the debt ceiling crisis enters the fourth week of May with both parties yet to reach a consensus. President Joe Biden and House Speaker Kevin McCarthy will meet on Monday to discuss the matter,...

Goldman Sachs Group economists have reportedly estimated that by June 8 or 9, the Treasury Department will see its cash levels drop below the $30 billion mark — a level which is considered as the bare minimum for meeting federal obligations falling due. What Happened: "The estimate is subject to...

President Joe Biden and House Speaker Kevin McCarthy will meet on Monday to discuss the debt ceiling, following a “productive” phone call as the President headed back to Washington following the G7 meet, the two sides reportedly said on Sunday. What Happened: Biden had spoken with...

Nobel laureate and noted economist Paul Krugman believes if the U.S. defaults on its national debt, financial markets will be disrupted by the lack of a safe and liquid asset, a role played by the dollar so far. What Happened: Krugman said in a tweet, "The risk from a debt default is *not...

President Joe Biden fired another warning to Republican lawmakers, suggesting that they need to budge if a bipartisan deal is to be reached on raising the debt ceiling. What Happened: "It's time for House Republicans to accept that there is no bipartisan deal on default to be made solely on their...

As Bernie Sanders, Elizabeth Warren, and other Democrats urged President Joe Biden to use the 14th Amendment to avoid a disastrous default, the U.S. Chamber of Commerce strongly pushed back. What Happened: The Chamber, a pro-business trade group that is known for backing Republicans, in a letter to...

Current Fed Chair Jerome Powell and former Fed Chair Ben Bernanke both appeared at the Thomas Laubach Research Conference on Friday, offering monetary policy remarks.  "Price stability is the cornerstone of an economy" Powell said in his opening comments, adding that the...

U.S. equity markets tumbled during late morning trading Friday after key debt ceiling negotiators, representatives of House Speaker Kevin McCarthy, reportedly walked out of a private meeting with White House officials. U.S. Rep. Garret Graves, a Republican participant in the discussions, voiced his...

Oil prices regained some ground on Friday after dropping more than 1% the previous day, thanks to a growing optimism that the risk of a U.S. debt default is receding. Brent futures saw a 0.9% uptick, settling at $76.53 a barrel, whereas West Texas Intermediate U.S. crude rose 0.7% to $72.36. IG...

President Joe Biden has reportedly urged his negotiators to keep following a debt-limit deal after House Speaker Kevin McCarthy indicated both parties may reach an agreement as soon as this weekend. In a call early Friday from Japan, where Biden is attending the Group of Seven summit, the President...

The debt ceiling crisis is a short-term worry for many investors as a failure to increase or suspend the borrowing limit is expected to cause chaos across financial markets. However, even if a resolution is reached, the barrage of bond sales by the Treasury Department to meet its obligations in the...

House Speaker Kevin McCarthy has been throwing shade at President Joe Biden for days over U.S. debt, and what to do about it. After all his vitriol, the California Republican said he can "see now where a deal can come together," touting that the "right people" are in the room...