'As funds run short, Treasury asks agencies if payments can be made later' -Washington Post Report
Portfolio Pulse from Benzinga Newsdesk
The US Treasury is asking federal agencies if payments can be made later as funds run short due to the debt ceiling, according to a Washington Post report. This could potentially impact the US economy and stock market.
May 23, 2023 | 1:21 pm
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NEGATIVE IMPACT
The debt ceiling issue and potential delayed payments by the US Treasury could negatively impact the US economy and stock market, affecting the SPY ETF.
The debt ceiling issue is a significant concern for the US economy, as it could lead to delayed payments and potential defaults. This uncertainty could cause investors to become more risk-averse, leading to a decline in stock prices and negatively impacting the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80