LONDON—The dollar nudged lower on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite across world markets and dented the greenback’s safe-haven appeal. U.S. President Joe Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until…
Graham Criticizes Defense Spending in Debt Ceiling Deal: ‘Biggest Winner of Biden Defense Budget Is China’
May 29, 2023
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Sen. Lindsey Graham (R-S.C.) warned House Speaker Kevin McCarthy (R-Calif.) that China would be the beneficiary of the U.S. defense budget proposed in the tentative debt ceiling deal. “I respect Kevin McCarthy. I want to raise the debt ceiling. It would be irresponsible not to do it. I want to control spending. I’d like to…
Oil Steady After US Debt Deal but Rate Hike Worries Linger
Oil prices were steady on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world’s largest economy and oil consumer, but concerns about further interest rate hikes capped gains. Brent crude futures climbed 14 cents, or 0.2 percent, to $77.09 a barrel by 0905 GMT, while U.S. West…
European Shares Lack Momentum After Debt Ceiling Deal
May 29, 2023
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LONDON—European stock indexes slipped slightly on Monday, lacking momentum in thin trade while optimism about the U.S. having reached a debt ceiling deal over the weekend kept Wall Street futures positive. U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal on Saturday to raise the federal government’s $31.4 trillion debt…
House Freedom Caucus Republicans Sounds Alarm on Debt Ceiling Agreement
Some members of the House Freedom Caucus said that a proposed deal announced by House Speaker Kevin McCarthy (R-Calif.) to raise the debt ceiling for two years ahead of a possible federal government default doesn’t go far enough. Negotiators are now racing to finalize the bill’s text. McCarthy said Saturday that House will vote on the…
House Freedom Caucus Republicans Sound Alarm on Debt Ceiling Agreement
Some members of the House Freedom Caucus said that a proposed deal announced by House Speaker Kevin McCarthy (R-Calif.) to raise the debt ceiling for two years ahead of a possible federal government default doesn’t go far enough. Negotiators are now racing to finalize the bill’s text. McCarthy said Saturday that House will vote on the…
McCarthy Confident He Can Win Enough Votes for Tentative Debt Ceiling Deal
May 28, 2023
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Speaker of the House Kevin McCarthy (R-Calif.) said he’s confident he can garner the votes for a tentative debt ceiling deal between Republicans and President Joe Biden. On the evening of May 27, McCarthy announced during a press conference that he and Biden had reached what he called “an agreement in principle that’s worthy of…
‘Surrender’: Chorus of Republicans Disappointed With Debt Ceiling Agreement
May 28, 2023
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Many Republicans are expressing their disappointment over some of the components inside the tentative debt ceiling agreement between President Joe Biden and House Speaker Kevin McCarthy (R-Calif.). McCarthy clarified details of the deal in a late Saturday night call with his GOP colleagues. A chorus of House Republicans took to Twitter to share their disappointment,…
Major Update on Debt Ceiling Talks
May 27, 2023
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The White House and House Republicans have reached an agreement in principle, House Speaker Kevin McCarthy announced on Saturday evening. “We still have a lot of work to do. But I believe this is an agreement in principle that’s worthy of American people,” McCarthy told reporters on Capitol Hill. “That’s historic reductions in spending, consequential reforms…
McCarthy: White House, Republicans Reach Debt Ceiling Agreement ‘In Principle’
May 27, 2023
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The White House and House Republicans have reached an agreement in principle, House Speaker Kevin McCarthy announced on Saturday evening. “We still have a lot of work to do. But I believe this is an agreement in principle that’s worthy of American people,” McCarthy told reporters on Capitol Hill. “That’s historic reductions in spending, consequential reforms…
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