News with the tag "US debt default"

In what may be seen as a breather for financial markets, U.S. President Joe Biden, along with influential Republican Kevin McCarthy, has reached an interim agreement to alleviate the $31.4 trillion debt ceiling standoff, according to insiders privy to the deliberations. However, this prospective pac...

In a resounding critique, Vyacheslav Volodin, Chair of the Russian State Duma, has recently designated the U.S. national debt as a “global financial pyramid,” designed to deceive nations and their populace. The United States’ precarious capacity to service its debt, he argued, was swiftly transformi...

U.S. Treasury Secretary Janet Yellen has updated her projection regarding the date the U.S. government could default on its debt obligations. She warned that the Treasury “will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit ...

In a riveting turn of events surrounding the financial landscape of the U.S., Wall Street, and European shares surged as the White House and Congressional Republicans meticulously crafted a final resolution on the looming debt ceiling debate. Markets react to the promising resolution The mounting op...

U.S. Treasury Secretary Janet Yellen has insisted that the U.S. could default on its debt obligations on June 1. “I think that’s a hard deadline,” she stressed. Meanwhile, global investment bank Goldman Sachs has estimated that the “real deadline” for a possible U.S. default is “more like” June 8-9....

Despite ongoing negotiations and the looming deadline to raise the debt ceiling, both President Joe Biden and House Speaker Kevin McCarthy expressed confidence that the United States would not default on its debt. Their assurances come at a crucial time when the government is racing against the cloc...

In a stark warning that sent shockwaves across global financial markets, the U.S. Treasury Department issued a statement on Monday, reiterating its prediction of an impending U.S. default on its debt come June 1st, if the debt ceiling isn’t raised. The looming threat, if realized, would mark a histo...

In the face of intense negotiations over the United States’ looming $31.4 trillion debt ceiling, Wall Street has been gripped by a sobering reality check. Conversations are shifting from theoretical consequences to actionable crisis plans, as financial institutions brace themselves for the potential...

Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we are in unknown waters,” he warn...

The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in line with the estimate by the Treasury Department that...