McCarthy predicts US debt-limit deal on House floor next week
Add BT as a preferred source
US HOUSE Speaker Kevin McCarthy said he expects the House to consider a deal on the federal debt limit next week, offering his most positive take yet on the negotiations to avoid a default.
Negotiators, he told reporters on Thursday (May 18), are in a “much better place” now. “I can see now where a deal can come together,” he said.
McCarthy said the five negotiators from the two sides are still discussing the size of the spending cuts and the size or length of the debt-ceiling increase or suspension.
Negotiations, he said, are happening two to three times a day and there is a “structure” to the talks. McCarthy also specified that he had confidence in two of President Joe Biden’s chief negotiators, Shalanda Young and Steven Ricchetti.
Stocks hit their highs of the session after the news, while the dollar maintained gains against a basket of currencies. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
