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Democrats Target a Debt Ceiling Increase of $2.5 Trillion

US
  • Recall that the Senate is due to be voting first on a debt limit increase as soon as today (as per Schumer's comments), which would in turn trigger a vote in the House.
  • Yellen had already flagged the timelines as tight, believing that if Congress doesn't raise the debt limit before Wednesday - she believes the US could run out of time and trigger a default shortly afterward.
  • An increase of $2.5trl is inside expectations - and would effectively last out until November 2022's midterms.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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