Free Trial

Powell Asked On The Debt Limit Standoff

FED
  • Q: Did you discuss the possible effects of a debt limit standoff?
  • A: These are fiscal policy matters for Congress and the administration to deal with. It's essential the debt ceiling be raised in a timely way. A failure to do that would be unprecedented... we don't give advice to either side, just point out it's very important that this be done. The other point, no-one should assume that the Fed can protect the economy from the potential effects of a failure to pay our bills on time.
  • A number of people did raise that as a risk to the outlook, that wasn't important in today's monetary policy decision.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.