Updated: May 10, 2023, 12:49 PM IST
livemint
The credit limit, which reflects the expenditure already fed into… MoreThe debt ceiling, which reflects federal money already spent, must be raised by the US Congress as soon as possible. But President Joe Biden wants it to be taken up unconditionally. And the Republicans kept dragging the matter. To try to resolve the impasse, Biden met Tuesday with Republican House Speaker Kevin McCarthy, Democratic legislative leaders and Senate Minority Leader Mitch McConnell. According to a Reuters report, Janet Yellen has decided to reach out to CEOs and financial leaders to personally warn them about the risks of defaulting.