Negotiations between the Biden administration and House Republican officials over the U.S. debt ceiling resumed shortly after noon on the 24th. A person familiar with the matter said.
The day before, officials from the Biden administration left the Capitol without reaching an agreement on negotiations to avoid a US default.
As negotiators headed for talks, Speaker of the House McCarthy, Republican, told reporters he was “confident we can reach” a deal to avoid a default.
Today’s talks are not being held in the Capitol, but in the White House’s Office of the Office of Management and Budget (OMB) Director Young. House Financial Services Committee Chairman McHenry, one of the Republican negotiators, said a day earlier that he believed talks were being held in the Capitol because Republicans had the upper hand.
U.S. Treasury Secretary Yellen said on Thursday that federal funds were drying up and markets were now showing signs of stress. He also said the Biden administration’s focus is on completing negotiations on the debt ceiling, not on developing a plan to deal with a default.
Yellen Seeks Deal on Debt Negotiations, No Default Response
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news-rsf-original-reference paywall">Original title:GOP, Biden Negotiators Resume Talks Amid Debt Default Impasse(excerpt)
2023-05-24 17:27:00
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