The outcome of the Biden-McCarthy debt ceiling deal does nothing other than to kick the can even further down the road.
The world can breathe a sigh of relief as a bill to increase the US debt ceiling – and avert global financial catastrophe – heads to President Joe Biden’s desk to be signed into law.
The middle may be shrinking, but it still exists, and it is critical in a closely divided Congress.
The US regional banking crisis refuses to die down meaning the tightening cycle maybe not be quite as over as most had thought.
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