The government has avoided default, but the effects of the debt-ceiling brinkmanship may still ripple across the economy.
Category: Treasury Department
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Despite Debt Limit Deal, 14th Amendment Questions Linger
President Biden has been considering ways to challenge the constitutionality of the debt limit to defuse the risk of default.
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Yellen’s Debt Limit Warnings Went Unheeded, Leaving Her to Face Fallout
The Treasury secretary, who considered ways to contain the fallout of a default when she was a Fed official in 2011, had urged Democrats to raise the limit while they still had control of Congress.
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Time Is Running Out for Congress to Raise the Debt Ceiling
With a June 5 deadline looming, there is much to be done to prevent the default that leaders of both parties said would never happen.
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Yellen Expects U.S. to Run Out of Cash by June 5 as Debt Talks Continue
The latest estimate is a slight extension from the previous June 1 deadline and comes as Republicans and the White House are trying to reach an agreement to raise the debt ceiling and avoid a crippling default.
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$49.5 Billion in U.S. Treasury? For These Billionaires, That’s Nothing
The cash balance at the Treasury Department is now lower than the net worth of some of the world’s richest people.
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Investors See Hope for a Debt Limit Deal
Stock and bond trading suggest that investors see an imminent deal to raise the debt limit and prevent the federal government from defaulting.
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Yellen Warns of Missed Payments if Debt Limit Is Not Lifted
The Treasury secretary said the Biden administration would face “very tough choices” if Congress did not act.
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JPMorgan’s Succession Plans for Jamie Dimon May Weigh on Investors
Revelations about rivals’ plans may prompt the bank’s shareholders to ask about who will replace Jamie Dimon at an annual investor gathering on Monday.