Raising the Debt Ceiling

Markets fret over the shutdown and debt ceiling

Mark Garrison Oct 2, 2013
HTML EMBED:
COPY
Raising the Debt Ceiling

Markets fret over the shutdown and debt ceiling

Mark Garrison Oct 2, 2013
HTML EMBED:
COPY

The government shutdown continues after Congress failed to reach an agreement over a spending bill Monday night. But now there’s a greater worry about the debt ceiling, the deadline for which U.S. Treasury Secretary Jack Lew says will continue to stay October 17. 

David Kelly, Chief Global Strategist at JPMorgan Funds, says markets hate uncertainty and that will weigh on the stock market. He says globally, many economies are growing at the same time, which makes the situation even worse. 

“It’s tremendously frustrating that the biggest obstacle right now to stronger U.S. growth is what’s happening in Washington,” he says. 

David Kelly, Chief Global Strategist at JPMorgan Funds, joins Marketplace’s Mark Garrison to discuss. Click the audio player above to hear more. 

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.

Raise a glass to Marketplace!

Just $7/month gets you a limited edition KaiPA pint glass. Plus bragging rights that you support independent journalism.
Donate today to get yours!