News with the tag "debt ceiling crisis"

On the cusp of the weekend, the 46th President of the United States, Joe Biden, and Kevin McCarthy, a leading Congressional Republican, brokered an agreement in principle to suspend the towering $31.4 trillion federal government debt ceiling. This critical breakthrough comes after a period of prolon...

A high-stakes negotiation is in the works in Washington as a critical deadline looms to lift the U.S. federal government’s $31.4 trillion debt ceiling. In a political climate fraught with a razor-thin margin in Congress, the consequences of a failure to resolve the current standoff are potentially c...

The White House, under the administration of Democratic President Joe Biden, has reignited discussions with top congressional Republican Kevin McCarthy over the issue of the United States’ pressing debt ceiling. The current $31.4 trillion cap must be raised to avert a calamitous financial default. T...

President Joe Biden, in a crucial standoff against the GOP over the issue of raising the government’s debt ceiling, has publicly labeled the Republican proposal as “unacceptable.” The rejection came during the G7 summit in Hiroshima, Japan, adding an international dimension to the domestic economic ...

An important juncture has been reached in Washington. Two essential discussions between the White House and Republican congress members, centered around raising the debt ceiling, have resulted in a deadlock, marking an impasse in the nation’s fiscal conversation. The nation’s debt ceiling currently ...

In a stunning prediction, CNBC’s noted financial commentator Jim Cramer has warned investors to steel themselves for the turbulence of the forthcoming week as the U.S. Congress tiptoes towards a resolution on the ongoing debt ceiling impasse. Cramer, who has long been an influential voice in financi...

The looming cloud of a potential debt ceiling crisis in the U.S. might be dispersing, with a possible solution on the horizon, suggesting a brighter economic outlook for the country. Over the past weeks, the uncertainty surrounding the nation’s capacity to meet its financial obligations has prompted...

As the U.S. faces the possibility of defaulting on its debt, Treasury Secretary Janet Yellen emphasizes that such a scenario should be “unthinkable,” warning of the disastrous consequences it would have on the country and global economy. Amidst a standoff between the White House and Congressional Re...

The ongoing U.S. debt crisis took center stage at the Group of Seven (G7) finance leaders’ meeting held in Niigata, Japan, as fears of a potential recession loom and global economies seek stability, just like I assumed it will in my report from yesterday. The G7 must be prepared to respond to any ma...

The debt ceiling crisis continues to escalate as President Joe Biden and House of Representatives Speaker Kevin McCarthy remain at odds over raising the $31.4 trillion U.S. debt limit. With just three weeks left before a potential unprecedented default, both parties are under pressure to reach an ag...