The markets were confident that negotiations to raise the nominal debt ceiling, set at $31.4 trillion, would lead to success already this weekend, but as soon as the first news arrived that the negotiations had stalled, the major stock indices pulled back from a slight increase. to a slight minus. For weeks now, the US Treasury Secretary has been sounding the alarm that the US Treasury will run out of room to maneuver by the beginning of June at the latest, and that the US may go bankrupt, which will have unforeseen financial consequences.
So a deal seems necessary in a couple of weeks, but according to signs, it won’t be done at the moment. The situation is complicated by the fact that the Republican House must (among other things) reach an agreement with the Democratic White House.
In recent days, House Speaker Kevin McCarthy has expressed optimism that he sees a path to a deal, but said Friday night that the negotiations, which should receive a push from the White House, have stalled.
Meanwhile, the Democrats have also confirmed that negotiations have been suspended, and at this time the additional timetable is not shown.
Cover image source: Getty Images
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