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Stories Tagged as

Debt ceiling

Raising the Debt Ceiling

Debt ceiling deadline is extended to June 5, later than previously estimated, Yellen says

by Associated Press
May 26, 2023
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Treasury Secretary Janet Yellen Yellen said in letter to Congress that inaction on raising the U.S. debt limit would “cause severe hardship.”
Alex Wong/Getty Images
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National Debt

Where does the US credit rating come from?

by Kai Ryssdal and Andie Corban
May 25, 2023
Atsi Sheth from Moody's gives us a behind the scenes look into the company's ratings process.
"In the most basic terms, a credit rating is really an opinion on the credit quality of any entity that borrows on the debt capital markets," said Atsi Sheth at Moody's Investors Service.
Emmanuel Dunand/AFP/Getty Images
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National Debt

When will the U.S. run out of money? It’s tough to say.

by Justin Ho
May 25, 2023
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Even Treasury Secretary Janet Yellen admitted it’s hard to be exactly sure when a default could happen.
Alex Wong/Getty Images
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What does the decline in corporate profits say about the economy?

by Samantha Fields
May 25, 2023
Profits fell for the second quarter in a row, partly due to Fed rate hikes. Whether it’s a good thing depends on your role in the economy.
Profits are falling, but the stock market is "not freaked out," says Bruce Sacerdote of Dartmouth.
Timothy A. Clary/AFP via Getty Images
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"We're right at the beginning of the hard part" of taming inflation, Atlanta Fed CEO says

by Kai Ryssdal and Sean McHenry
May 24, 2023
Raphael Bostic says the Fed needs to stay focused on its goal of slowing down the economy and reducing inflation to its 2% target.
"Ultimately, shaken confidence in the full faith and credit of the United States government will not be good for the economy and will not be good for your average American," Raphael Bostic of the Atlanta Fed says of the debt ceiling debate.
Stephen Nowland/Federal Reserve Bank of Atlanta
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Consumers say they're doing fine, but the economy as a whole isn't. Why?

by Justin Ho
May 23, 2023
It all depends on the questions pollsters ask. "How are you doing?" will elicit a different answer than "How do you feel about inflation?"
According to a survey out this week, almost three-quarters of people feel at least OK about their own personal economies. But other surveys suggest people think differently about the broader economy.
David Becker/Getty Images
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National Debt

What happens to benefit checks if there's no deal on the debt ceiling?

by Samantha Fields
May 23, 2023
Supplemental Security Income payments and veterans 'payments could be among the first checks to be delayed.
Speaker of the House Kevin McCarthy is scheduled to meet with President Joe Biden to continue debit limit negotiations. Experts agree that a default would cause a massive pause on regular government payments to individuals in need.
Chip Somodevilla/Getty Images
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National Debt

The messy money reality at the center of the debt ceiling fight

by Kai Ryssdal , Richard Cunningham and Maria Hollenhorst
May 22, 2023
Raising the federal government’s borrowing limit isn’t about spending. It’s about how money works.
Unless the White House and Congressional leaders can make a deal to lift or suspend the debt limit, the U.S. could default on its debts as soon as June 1.
Anna Moneymaker/Getty Images
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Corporate borrowing is up this month, despite rising interest rates

by Justin Ho
May 19, 2023
Recent mergers and the ongoing debt limit negotiations in Congress could be prompting companies to borrow more.
Large mergers, like Pfizer’s $43 billion purchase of the biotech company Seagen, is one reason why corporate borrowing is up this month.
Kena Betancur/AFP via Getty Images
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I've Always Wondered ...

How could the government debt crisis affect individual investors? 

by Janet Nguyen
May 19, 2023
Financial experts advise investors to not panic, reduce debt and build savings.
President Joe Biden speaks during a White House meeting with lawmakers on the debt limit this week.
Saul Loeb/AFP via Getty Images
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