House Speaker McCarthy Tweeted: President Biden And I Just Had A Productive Meeting In Our Negotiation To Responsibly Raise The Debt Limit. It Should Have Happened Months Ago, But There Is A Path For Him To Avoid Defaulting On The Debt.
Portfolio Pulse from Charles Gross
House Speaker McCarthy and President Biden had a productive meeting to negotiate raising the debt limit, potentially avoiding a default on the debt.
May 22, 2023 | 11:42 pm
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POSITIVE IMPACT
A potential agreement on raising the debt limit could stabilize the market and positively impact the SPY ETF.
A successful negotiation to raise the debt limit would reduce the risk of a default, which could have negative consequences for the economy and the stock market. This would likely lead to increased investor confidence and a positive impact on the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 50