debt ceiling

U.S. markets have so far managed to avoid any sharp negative reaction despite Congress failing to find a decisive outcome yet in regard to the debt ceiling crisis. In fact, markets registered gains on Wednesday as investors and traders began pricing in a positive outcome to the political impasse...

Former Treasury Secretary Lawrence Summers reportedly said it’s not right to kidnap and hijack the financial credibility of the United States to make a point about deficit and fiscal policies. "So the right thing to do is to move on with this. And look, the people who say we have got real...

As the government and Republic lawmakers work overtime to settle the debt ceiling issue amicably, noted economist and gold bull Peter Schiff said a resolution alone will not work wonders for the U.S. What Happened: “According to Democrats and [Joe] Biden, America’s...

Major Wall Street indices rose over 1% on Wednesday led by optimism that a potential resolution to the debt ceiling crisis could be in the offing. Democrats in the House of Representatives plan to file a discharge petition as a means to raise the debt ceiling in case it becomes necessary, top House...

A group of Democratic Senators plans to urge President Joe Biden to invoke the 14th Amendment in order to address the debt ceiling crisis. A letter has circulated among Democrats in the Senate, indicating rising skepticism about the path of debt ceiling discussions as the June 1 deadline...

The SPDR S&P 500 (NYSE: SPY) was surging over 1% higher on Wednesday after President Joe Biden said lawmakers will reach an agreement before the U.S. defaults on its debt, which could occur as soon as June 1.  The news caused the SPY to break up from a triangle pattern as it reached the...

The U.S. will not default on its debt as it faces a deadline to increase its borrowing limit and will not default in the future, President Joe Biden said in a White House speech Wednesday before departing for a G7 meeting in Japan.  Biden is confident an agreement on the debt ceiling...

The U.S. dollar has risen to its highest level in more than five weeks, with the U.S. Dollar DXY index breaking above the 50-day moving average resistance level, indicating a revival in investors' demand for safe-haven assets while debt limit talks continue. The dollar's gains during the...

Papua New Guineans expressed dismay as U.S. President Joe Biden altered his plans and canceled his scheduled visit to Port Moresby amid crucial debt limit negotiations in Washington.  What Happened: Residents of Papua New Guinea were disheartened by the sudden change in Biden’s...

JPMorgan Asset Management is of the view that a recession in the U.S. is a virtual certainty and the Federal Reserve is likely to cut interest rates by the third quarter as growth fizzles out, according to a report. What Happened: "The market is right to be penciling in cuts," said Seamus Mac...

Jerome Schneider, head of short-term portfolio management and funding at Pacific Investment Management Co. reportedly said yields on certain U.S. Treasury bills could rise to 10% if the debt ceiling impasse continues until the securities are about to mature. "Fear is going to be exacerbated to the...

U.S. markets ended in the red on Tuesday as a barrage of factors including the yet inconclusive debt ceiling limit talks between President Joe Biden and House Speaker Kevin McCarthy kept investors and traders in a cautious mode. The U.S. retail sales data for April indicated softer consumer...

"Negotiators are still far apart" but a deal by the end of the week is "feasible," House Speaker Kevin McCarthy (R-CA) said following a debt ceiling summit with President Joe Biden and other key lawmakers on Tuesday. "We've set the stage for further...

More than 140 top executives of American corporations issued a letter urging the government to reach a solution to promptly lift the debt ceiling and avert the disastrous implications of a default, just a few hours ahead of the key Joe Biden-Kevin McCarthy meeting later Tuesday....

As the debt ceiling stalemate continues, President Joe Biden has repeated warnings about the negative consequence of a potential default. What Happened: "A default on America's debt would be catastrophic for working families," said Biden in a tweet late Monday. Detailing the ramifications, the...