debt ceiling

Treasury Secretary Janet Yellen on Monday reiterated her warning in a letter addressed to House Speaker Kevin McCarthy stating that if Congress fails to raise the debt limit, it would cause severe hardships to American families. Yellen stated if the debt crisis isn't resolved it would "harm our...

Negotiations to raise the U.S. federal debt ceiling met fresh snags after the White House presented congressional Republican leaders with a list of proposals to reduce the deficit by closing tax loopholes on Monday, which were universally rejected by the GOP. President Joe Biden will meet with key...

The biggest catalyst for the SPDR S&P 500 ETF Trust (NYSE: SPY) in the next few weeks could easily be a U.S. debt ceiling deal between President Joe Biden and House Republicans. Yet the latest news from Washington suggests the two sides are still far apart in the negotiation process, leaving...

Although gold remains the top choice as a safe haven in case the U.S. hits the debt ceiling and Treasuries take the second spot, Bitcoin (CRYPTO: BTC) seems to have snatched the third spot from popular assets like the U.S. dollar, Swiss franc or the Japanese yen, a survey reportedly shows. More...

As the debt ceiling crisis continues to persist, Peter Schiff, chief economist and global strategist at Euro Pacific Capital believes either a default on the national debt or massive inflation would be possible. ‘”Experts” agree that if the #DebtCeiling is not raised, and the U.S. Govt...

Lael Brainard, Director of the National Economic Council, has reportedly warned that if Congress fails to prevent a default on national debt, it would be catastrophic but also expressed confidence about averting the crisis saying the U.S. always pays its bills. "…so the staff is very engaged...

Top economist David Rosenberg on Friday called the debt ceiling crisis "pathetic." What Happened: Amid the ongoing debt ceiling standoff between Team Biden and the House of Republicans, Rosenberg took to Twitter to disapprove of the debt ceiling crisis considering that government revenue is near a...

Treasury Secretary Janet Yellen said on Saturday that the current debt ceiling crisis could be more difficult to navigate through but expressed hope that a solution will soon be reached. What Happened: "It's certainly not a positive for relationships and standing in the world and credibility,"...

The probability that the U.S. economy will enter a recession within the next year has increased to 68.2% in April. That's the greatest level since late 1982, according to the Federal Reserve Bank of New York. The model employs the U.S. Treasury yield curve, and specifically the spread between...

The U.S. stock market got off to a shaky start in May. The S&P 500 index, closely tracked by the SPDR S&P 500 Trust ETF (ARCA: SPY), is poised to end its second consecutive week of losses for the first time since mid-February as the debt-limit stalemate weighed on sentiment. As of...

Treasury Secretary Janet Yellen reiterated her concerns about a potential default by the U.S. and said the deadline when the Treasury will run out of funds isn't certain yet. What Happened: "What global markets and American households and businesses need to see is that we have a Congress that is...

In the event Congress fails to lift or suspend the debt ceiling which would cause the United States to default on its federal debt, mortgage rates could reach 8.4%, sending the mortgage payment on a typical home 22% higher by September, according to a projection by real estate marketplace company...

Prominent market commentator Jim Cramer believes defaulting on the national debt could change the geopolitical face of the United States as the debt ceiling impasse continues although the White House has reportedly acknowledged some spending cuts may be required. "I hated being so downbeat tonight...

Amid the ongoing debt ceiling standoff, top Pentagon leaders warned that a default would be a win for Xi Jinping, who describes the U.S. in his speeches as "declining power." What Happened: Defense Secretary Lloyd Austin and Joint Chiefs Chair General Mark Milley, during a Senate Defense...

The much-awaited meeting between President Joe Biden and House Speaker Kevin McCarthy regarding the debt ceiling crisis that was scheduled to take place on Friday has been reportedly postponed with the leaders having agreed to meet early next week. Aides from both sides have begun discussing ways...