Chicago Federal Reserve Bank President Austan Goolsbee on Sunday welcomed news of a deal to suspend the U.S. debt ceiling, saying failure to forge an agreement would be ‘extremely negative’ for the financial system and broader economy. Updated ago Austan Goolsbee, now the president of the Chicago Federal Reserve, speaks during the Obama Foundation “Democracy Forum” in New York City, U.S., November 17, 2022.
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May 28 (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Sunday welcomed news of a deal to suspend the U.S. debt ceiling, saying failure to forge an agreement would be “extremely negative” for the financial system and broader economy.
Interviewed on CBS’s “Face the Nation,” he declined to say whether he would support an interest-rate hike at the Fed meeting on June 13-14. He said the full impact of central bank rate increases to date had yet to be felt. headtopics.com
“I try … to make it a point not to prejudge and make decisions when you are still weeks out from the meeting,” Goolsbee said. “We are going to get a lot of important data between now and then.” He said he was heartened by indications U.S. lawmakers will ratify the
debt ceiling deal
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Fed’s Goolsbee: won’t prejudge June rate decisionChicago Federal Reserve Bank President Austan Goolsbee said on Sunday he won’t ‘prejudge’ whether he would support an interest-rate hike at the upcoming Fed meeting in June, but noted that the full impact of the central bank’s rate increases to date have yet to be felt.
Debt Ceiling Bill Will End Student Debt Pause Within 60 Days, McCarthy SaysSpeaker of the House Kevin McCarthy said the bill would end the pause on federal student debt payments 60 days after the bill was passed, accelerating the June 30 window for the pause to end.
Wall St Week Ahead Debt ceiling deal may shift investor focus to further Fed actionA last-minute deal to raise the U.S. $31.4 trillion debt ceiling will likely shift Wall Street’s attention to other emerging risks, including further Federal Reserve interest rate hikes and an expected reduction in fiscal spending.
Yellen Sets June 5 Deadline to Avoid Debt Default as Negotiations ContinueTreasury Secretary Janet Yellen sent a letter to congressional leaders warning the U.S. would not have the money to make its payments on June 5. See potential bias and similarities in coverage from thehill, FoxBusiness, and axios:
Biden and GOP reach tentative deal to raise debt ceiling and avoid calamitous US defaultWith the outline of an agreement, a legislative package can be drafted in time for votes in Congress next week, ahead of a projected June 5 federal default. Negotiators agreed to some Republican demands for enhanced work requirements on recipients of food stamps.
Biden, GOP reach tentative deal to raise debt ceiling, avoid calamitous US defaultPresident Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation’s legal debt ceiling late Saturday.
