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Powell Stresses US Debt Ceiling Should be Raised in Timely Fashion

FED

Q: What if the debt ceiling isn't raised?

- A: Important debt ceiling is raised in timely fashion so US can pay its bills. Failure is something that could result in severe damage to the economy and financial markets, and not something we should contemplate.

  • US shouldn't default on any of its obligations. No-one should assume the Fed or anyone else can fully protect the economy if we fail to pay those debts when they're due.

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