List of All Articles with Tag 'ceiling'

The BBC examines four ways you could be affected if the US fails to reach a deal on its debt.

By David Randall NEW YORK A potential deal to lift the U.S. debt ceiling could spur money managers

During a meeting with more than two dozen bank CEOs on Thursday, Treasury Secretary Janet Yellen stressed the urgent need for Congress to address the debt ceiling, according to a readout of the meeting from the Treasury Department.

As negotiations over addressing the debt ceiling continue and the threat of default draws closer, President Joe Biden has resurfaced the controversial idea of using the 14th Amendment as a way to lift the borrowing cap without Congress.

Two days after his second recent meeting in the Oval Office to discuss raising the debt ceiling, House Speaker Kevin McCarthy sounded positive about the direction of debt limit talks, telling CNN he sees how they can get to a deal and that he wants a bill on the floor next week.

The United States risks could run out of money to pay its bills if Congress is not able to reach an agreement on the debt ceiling. It could happen as soon as June 1, according to warnings from Treasury Secretary Janet Yellen, and could have potentially have far-reaching and dire consequences for Americans, including people who receive benefit payments or run a small business or who are trying to buy a home.

Senate Majority Leader Chuck Schumer urged JPMorgan Chase CEO Jamie Dimon and other leading bank executives during a meeting on Wednesday to push all members of Congress to take the threat of a disastrous default off the table, a person familiar with the matter told CNN.

With work requirements for safety net programs emerging as a central issue in the debt ceiling negotiations, President Joe Biden's past support of such mandates is a point of optimism for Republicans and of concern for his fellow Democrats.

President Joe Biden on Wednesday sought to lay out how he'll continue to negotiate with congressional leaders on the budget to raise the debt ceiling -- underscoring that all parties agreed that the United States would not default.

President Joe Biden has cut short a foreign trip as both sides race to strike a deal before 1 June.

President Joe Biden's pledge to the world that "America is back" after a period of political turbulence is looking a little shaky after a debt showdown with Republicans forced him to shorten an Asia-Pacific trip designed to showcase US power amid a challenge from China.

With time running out to reach a deal on the debt ceiling, Treasury Secretary Janet Yellen plans to meet with bank CEOs on Thursday afternoon in Washington, sources tell CNN.