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The Latest Breaking News from Janet Yellen

Stocks Set to Open Mixed as Investors Await FOMC Minutes, U.S. Debt-Ceiling Talks in Focus

June S&P 500 futures (ESM23) are down -0.03%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.01% this morning as market participants continued to monitor U.S. debt-ceiling negotiations while awaiting the release of the Fed’s favorite inflation gauge and the minutes of the Federal Reserve’s latest policy meeting.

Barchart

Biden and McCarthy say debt limit meeting was productive but it ends without a deal

The two leaders met in person Monday at the White House after a "productive" phone call on Sunday about the debt ceiling. The U.S. could run out of money to pay its bills as early as June 1.

WEKU

Debt ceiling explained: Why it's a struggle in Washington and how the impasse could end

President Joe Biden and House Speaker Kevin McCarthy are to meet face to face on Monday after a weekend of on again, off again negotiations over raising the nation’s debt ceiling

The Independent UK

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Biden and McCarthy to resume talks Monday as debt ceiling deadline looms

United States expected to hit default deadline on 1 June

The Independent UK

Biden, McCarthy to meet Monday, as staff debt-limit talks resume

Debt-limit negotiators resumed discussions in Washington ahead of a meeting on Monday between President Joe Biden and House Speaker Kevin McCarthy, as time grows short to avert a U.S. default.

Tribune News Service

No deal on debt ceiling hike

"DOJ can and SHOULD admit that the plaintiff is right," one political observer said of NAGE's case

Salon

A US debt default could crush small businesses. So what can we do?

It sounds obvious, but it’s a fact that my very best small-business clients are always thinking ahead

The Guardian - US

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The ‘dysfunctional’ debt ceiling fight could cause a $12 trillion blow to the American economy if Washington doesn’t get its act together

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

Fortune

The high-stakes debt ceiling fight could be a $12 trillion blow to the American economy: Here are 3 disasters a default would trigger

Janet Yellen has warned that defaulting on the debt would be a "catastrophe," but do you really know what that means?

Fortune

Stock Market Today: Stocks Turn Lower Amid Debt Ceiling Setback

The major indexes swung lower Friday after lawmakers reached an impasse in debt ceiling negotiations.

Kiplinger

Scoop: Janet Yellen’s private debt ceiling warning to Wall Street

Behind closed doors, Yellen says borrowing costs are already rising.

Axios

Tesco chair steps down after allegations of inappropriate behaviour; Rishi Sunak and Akshata Murty lost £200m in a year – as it happened

John Allan to stand down after allegations of inappropriate behaviour, while latest Sunday Times rich list shows first fall in the number of billionaires since financial crisis

The Guardian - UK

G7 leaders discuss China 'economic coercion' threat

Leaders from the Group of Seven wealthy democracies are meeting in Hiroshima, Japan, Friday with Ukrainian President Volodymyr Zelensky expected to join the group in person on Sunday.

France 24

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues

Leaders of the Group of Seven advanced economies are generally united in voicing concern about China

The Independent UK

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The Independent UK

Why a government default could be worse than a government shutdown

All the hand-wringing over a potential government default if Congress doesn’t increase the national debt limit has conjured up images of past government shutdowns

Businessweek

The True Cost of an Extended US Debt-Ceiling Standoff

Recurring struggles over the borrowing limit undermine the status of the US as an economic superpower.

Fortune

A group of over 140 CEOs and Wall Street titans including David Solomon just signed an open letter warning stocks will crash if politicians can’t raise the debt ceiling

"We write to emphasize the potentially disastrous consequences of a failure by the federal government to meet its obligations,” the group wrote Tuesday.

ABC News

What is the US debt ceiling? How does it affect the economy? Could Australia be impacted?

The United States is rapidly running out of money to pay its bills unless the Republicans and Democrats can agree on a new deal. Here's how the US got here, and what it means for Australia.

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news in one place.

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ABC News

ASX closes lower as Incitec Pivot's profit falls, US recession warning as debt ceiling deadline looms — as it happened

The Australian share market closes lower as Incitec Pivot records a lower profit result, and the US Treasury secretary warns a recession is likely unless a deal is struck over the debt ceiling. Look back on the day's business and market news with our blog.

Al Jazeera

What to expect as the US continues with debt ceiling negotiations

Republican lawmakers continue to insist on cuts to social programmes as US debt default looms on the horizon.

Fortune

Top Obama economist says we should abolish the debt limit as the current political 'brinksmanship' hurts the economy

The Harvard professor has argued since 2017 that the debt ceiling no longer helps restrain the national debt as intended.

The Guardian - US

Biden reportedly cuts Asia trip short as debt ceiling talks enter crunch time – as it happened

President will return to the US on Sunday immediately following G7 to ensure Congress takes action to avoid 1 June default

The Independent UK

Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal

President Joe Biden will discuss the debt limit with House Speaker Kevin McCarthy and congressional leaders at the White House

Axios

Yellen holds firm on potential June 1 debt ceiling deadline

“I still think we’re far apart,” McCarthy told NBC News on Monday.

Fortune

The debt limit fight is a 'game of chicken' that only has one loser: The U.S. economy

There could be serious economic damage in the U.S. and elsewhere if the debt ceiling fight nears the default deadline.

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