Archive for May 22nd, 2023

New Overnight Developments Abroad - Daily Update

U.S. Debt Ceiling Standoff Into the Eleventh Hour

May 22, 2023

Without a higher debt ceiling, the U.S. federal government will begin to not meet all its spending obligations by the start of June, prompting a default by mid-month, if not somewhat sooner. Biden and McCarthy are to resume talks to avert such a crisis today. Fed Chairman Powell again insinuated that banking system strains could […] More