KONTAN.CO.ID - WASHINGTON. White House and Republican congressional negotiators on raising the federal $31.4 trillion debt ceiling were quiet on Saturday after meetings on Friday failed and President Joe Biden said in Japan he believed a default could be avoided. A second meeting broke up late Friday with no progress cited by either side and with negotiators saying they were not sure when fresh meetings would take place. There are less than two weeks before June 1, when the U.S. Treasury Department has warned that the federal government could be unable to pay all its debts. That would trigger a default that could cause chaos in financial markets and spike interest rates. Biden said in Japan late on Friday Washington time that he still believed a default could be avoided.
Washington Quiet as Debt Ceiling Deadline Inches Closer
KONTAN.CO.ID - WASHINGTON. White House and Republican congressional negotiators on raising the federal $31.4 trillion debt ceiling were quiet on Saturday after meetings on Friday failed and President Joe Biden said in Japan he believed a default could be avoided. A second meeting broke up late Friday with no progress cited by either side and with negotiators saying they were not sure when fresh meetings would take place. There are less than two weeks before June 1, when the U.S. Treasury Department has warned that the federal government could be unable to pay all its debts. That would trigger a default that could cause chaos in financial markets and spike interest rates. Biden said in Japan late on Friday Washington time that he still believed a default could be avoided.