President Joe Biden and House Republicans led by Speaker Kevin McCarthy might have one more week of wiggle room than believed in order to avert a historic default of the U.S. federal government.
Speaking to Bloomberg Television on Friday, the chief political economist of Goldman Sachs said Treasury secretary Janet Yellen’s prediction of June 1 as the “X-date” when the government runs out of enough cash to pay all of its bills was likely a conservative estimate, and there was in fact more cushion.
