Author: Aris Folley

Debt limit fight puts US on credit watch

The U.S. is on credit watch as high-stakes negotiations over the debt limit take center stage in Washington. Credit agencies are warning that the nation’s stellar credit rating could be downgraded as the U.S. inches closer to running out of cash and defaulting on its roughly $31.4 trillion debt. Capitol Hill is getting nervous. “Most…

Progress and a later deadline, but no debt deal

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story Progress and a later deadline, but no debt deal The White House and House GOP negotiators may be making progress toward a deal to avert a devastating default on the national debt. © Tierney L. Cross…

House leaves town with no debt ceiling deal

House lawmakers are leaving Washington for the long holiday weekend Thursday afternoon — just one week before the Treasury Department says the U.S. is at risk of a debt default — without a deal to raise the debt ceiling. Negotiators say they’re getting closer to striking a deal to avert a default next week, but an…

McCarthy shifts, voices new confidence in debt ceiling deal

Bipartisan negotiators racing to secure a debt ceiling deal voiced new confidence on Thursday that they’ll locate a compromise before a federal default. But even as President Biden and Speaker Kevin McCarthy (R-Calif.) both hinted at significant progress in the talks, rank-and-file lawmakers in both parties are raising alarms about the concessions their leaders have…

How the debt crisis could affect your 401(k)

The high-stakes battle over the debt ceiling in Washington is spilling over into financial markets. Stock values have whipsawed and bond yields have spiked in recent weeks as Wall Street becomes increasingly fearful of a federal default. Experts say the damage could be minor and ultimately reversible if lawmakers can avert a default. But the…

Five things to know about where debt ceiling talks stand

Less than two weeks stand between Congress and a fast-approaching deadline from the Treasury Department forecasting the earliest the nation could risk a federal default. Negotiations between the White House and Speaker Kevin McCarthy (R-Calif.) have picked up in recent days, but McCarthy told reporters this week that he thinks both parties are still “far…

Yellen stands by June 1 for debt limit X-date

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story Yellen stands by June 1 for debt limit X-date Treasury Secretary Janet Yellen on Monday affirmed that the nation is still on track to default as early as June 1. © Greg Nash In her latest…