White House Official Says McCarthy's Team Last Week Moved In More Partisan Direction, President Biden Continues To Look For Bipartisan Solution To Debt Ceiling
Portfolio Pulse from Benzinga Newsdesk
A White House official stated that McCarthy's team moved in a more partisan direction last week, while President Biden continues to seek a bipartisan solution to the debt ceiling issue.
May 22, 2023 | 4:19 pm
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NEGATIVE IMPACT
The debt ceiling issue and the search for a bipartisan solution may cause uncertainty in the market, potentially impacting the SPY ETF.
The debt ceiling issue has historically caused market volatility and uncertainty. As the White House official mentioned that McCarthy's team moved in a more partisan direction, it may prolong the resolution process, potentially impacting the SPY ETF negatively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 50