US President Biden, House Speaker McCarthy debt ceiling meeting postponed, spending cuts on table
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“A debt limit meeting between US President Joe Biden and top lawmakers that had been scheduled for Friday has been postponed, and the leaders agreed to meet early next week, a White House spokesperson said on Thursday,” reported Reuters.
The news becomes all the more important and negatively impacts the risk appetite as the US Treasury Department has already signaled the Federal Government’s likely default as soon as June 1 unless the debt ceiling is raised. Also increasing the intensity of the news is the fact the US President Biden is set to attend the G7 meeting in Japan the next week.
Also read: Forex Today: Dollar strengthens on mixed markets, commodities under pressure
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