debt ceiling

Treasury yields are experiencing heavy volatility as a debt ceiling agreement continues to be delayed with less than a week until the U.S. government risks running out of money to make payments. On Monday night, House Speaker Kevin McCarthy said that he had a "productive discussion"...

Game theory may offer some clues to Wall Street's tremendous resilience to the ongoing debt ceiling crisis that has continued into the fourth week of May despite the Treasury Department's repeated warnings that it may run short of cash as early as June. "Investors shouldn't be seeking to game the...

Democratic presidential candidate Marianne Williamson has criticized House Speaker Kevin McCarthy's resolution on spending cuts saying it's the poor he wants to pay for his notion of fiscal responsibility. "You, Mr. Speaker, are more than happy to spend "money we don't have" as long as it's on tax...

Rep. Matt Gaetz (R-Fla.) brushed off talk about House Speaker Kevin McCarthy's (R-Calif.) speakership being in danger as he tries to strike a compromise with President Joe Biden on the debt ceiling. What Happened: Gaetz said on Twitter on Monday, "Literally nobody except the press is talking about...

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...