NEW YORK—After three years, the pandemic-era freeze on student loan payments will end in late August. It might seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits. More than 40 million Americans will have to start…
It’s Almost Time to Resume Student Loan Payments. Not Doing so Could Cost You
US Default Risk Casts Shadow Over Biden’s G7 Trip at Home
May 21, 2023
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Asia & PacificBusiness & Marketsdebt ceilingdefaulteconomic policiesExecutive BranchG-7PoliticsUSWorld
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
US Default Risk Casts Shadow Over Biden’s G7 Trip
May 21, 2023
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Asia & PacificBusiness & Marketsdebt ceilingdefaulteconomic policiesExecutive BranchG-7G7 Leaders’ SummitPoliticsUSWorld
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
US Default Risk Casts Shadow Over Biden’s G-7 Trip
May 21, 2023
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Asia & PacificBusiness & Marketsdebt ceilingdefaulteconomic policiesExecutive BranchG-7G7 Leaders’ SummitPoliticsUSWorld
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G-7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
What to Do If the Debt Ceiling Fight Worsens
May 14, 2023
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Commentary The debt ceiling debate in Washington has been widely discussed but so far, few investors are truly worried. Most believe that when the deadline arrives, Congress and the White House will reach an agreement—even if it’s to kick the can down the road. As of now, Treasury Sec. Janet Yellen has set the deadline…
Neither Default Nor Chaos
Commentary Treasury Secretary Janet Yellen has warned again (and again and then again) about the dire approach to Washington’s debt ceiling. She has told the nation that the prospect is near and that it could cause the country to default on its debt, an event, she adds, that would bring financial and economic chaos. Media…
Yellen Says Congress Risks Creating a Self-Made Crisis With ‘Unthinkable’ Debt Default
May 11, 2023
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Business & Marketscongressdebt ceilingdefaultDemocratseconomic policieseconomyExecutive BranchJanet YellenMarketsPolicies & ImpactsPoliticsrecessionRepublicansUS
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Treasury Secretary Janet Yellen accused the Republican-controlled House of creating a self-made crisis over its stance on the debt ceiling. Yellen, who was attending a Group of Seven (G7) conference in Niigata, Japan, called on Congress to raise the $31.4 trillion federal debt limit to avert a U.S. government default that would trigger a global…
Biden Says Republican Threats Over Debt Ceiling Are ‘Dangerous’ With ‘Enormous Implications’
May 10, 2023
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President Joe Biden extended his attacks on Republicans in a speech in New York on Wednesday, calling their threats over the debt ceiling “dangerous” and meaningless. A day after a high-stakes meeting with congressional leaders, Biden delivered a speech at SUNY Westchester Community College in Valhalla, New York, emphasizing the importance of raising the debt…
The Debt-Ceiling Crisis That Probably Isn’t
May 5, 2023
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Business & MarketsBusiness Columnistsdebt ceilingdefaulteconomyPolicies & ImpactsTreasury DepartmentUS
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The financial media is rife with misinformation on the debt ceiling and the jump in interest rates. However, a history review shows that the debt-ceiling issue is not only a non-crisis but also the recent rise in rates is likely an opportunity to buy bonds. Let’s start with the media scare tactics over the debt…
White House Warns of Millions of Job Losses, ‘Severe Damage’ to Economy If US Defaults on Debt
May 4, 2023
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A continued breach of the U.S. debt ceiling could result in “significant disruptions” to financial markets and “severe damage” to the economy, including more than 8 million job losses, the White House has warned. In a report published on May 3, the White House Council of Economic Advisers stressed that a historic U.S. default on its…
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