debt ceiling

President Joe Biden announced that he is looking forward to signing the debt ceiling bill into law after the Senate passed the bipartisan deal on Thursday, despite 5 Democrats and 31 Republicans voting against it. What Happened: Just days ahead of the fast-approaching fiscal...

Dwindling cash reserves were reportedly forcing the Treasury Department to adopt fresh maneuvers almost on a daily basis. However, with the passage of the bill in the Senate, the Treasury can now heave a sigh of relief. The legislation was cleared on Thursday night with 63 votes in favor and 36...

The Senate on Thursday night cleared the debt ceiling bill with 63 votes in favor of the legislation and 36 votes against it. Both parties acknowledged that although the deal negotiated by House Speaker Kevin McCarthy and President Joe Biden was far from perfect, it was necessary to avoid a...

With the Senate racing the clock to pass the debt ceiling bill before a looming June 5 deadline, the U.S. could potentially face an economically catastrophic default if the legislation does not reach President Joe Biden’s desk in time. The bill’s journey through the Senate needs to be...

Oil prices rose during Thursday afternoon Asian trade after the passage of the debt ceiling bill in the House brought relief to traders. West Texas Intermediate futures maturing in July were trading 0.6% higher at $68.6 per barrel, at the time of writing. Another factor that helped lift prices was...

Sen. Bernie Sanders (I-VT) on Wednesday vowed to vote against House Speaker Kevin McCarthy and President Joe Biden‘s debt-ceiling deal. What Happened: As the deal to raise the national borrowing limit advanced to the Senate, after receiving overwhelming support at the House, Sanders said he...

Billionaire investor Ray Dalio, the founder of the world's largest hedge fund Bridgewater Associates, said the debt ceiling deal won't make much difference given that the U.S. government is adding too much to a pile of debt that is already too large. Dalio rated the debt problem ‘Grade D' in his...

The House passed the debt ceiling deal on Wednesday night with a total of 314 votes in favor of the bill and 117 votes against it, according to latest data available at the time of writing. The bill now moves on to Senate. At the time of publication, 165 Democrats voted in favor of the bill while...

The U.S. stock market tumbled on Wednesday following the release of the JOLTS report, which showcased an unexpected increase in job vacancies to 10.1 million, surpassing the anticipated 9.375 million. This development has reinforced market speculation of the Federal Reserve enacting another...

We have been discussing the possibility of an Elliott Wave triangle overshoot in the most recent run-up.  Whether it is actually a triangle or a different type of wave B is to be determined but there is a level of interest, despite the possibility of finishing the month green. From the all-...

The U.S. dollar has soared to levels unseen since mid-March, fueled by encouraging progress on the debt ceiling deal and mounting expectations of impending Federal Reserve interest rate hikes. The debt limit deal cleared the major hurdle of the House Rules Committee on Tuesday, in a 7-6...

Allianz chief economic adviser and noted economist Mohamed El-Erian reportedly said the best response to a debt issue is economic growth. "…my biggest worry is this whole saga has done three things that actually undermine economic growth. One, it has diverted the attention of Congress for...

Florida Governor Ron DeSantis held his first presidential campaign in Iowa, where he criticized President Joe Biden's debt ceiling deal with House Speaker Kevin McCarthy. What Happened: Speaking to a packed crowd at the Eternity Church in Clive, DeSantis humorously suggested that Biden's time in...

Just a day before the debt ceiling bill is scheduled to hit the floor, Sen. Rand Paul (R-KY) announced his conservative alternative to the deal agreed to by President Joe Biden and House Speaker Kevin McCarthy. The alternative will be offered as an amendment to the so-called "Fiscal Responsibility...

In a win for House Speaker Kevin McCarthy, the debt ceiling bill surpassed an important hurdle on Tuesday evening as the powerful House Rules Committee reportedly voted seven to six to advance the bill to the floor. The bill will hit the floor Wednesday for debate and a final passage vote before it...