Bushey, a member of the White House Council of Economic Advisers, said the Fed's interest rate hikes to curb inflation had a negative impact on the banking sector.
[Financial Channel/Comprehensive Report] Heather Boushey, a member of the White House Council of Economic Advisers, said on Tuesday (2nd) that the Federal Reserve's interest rate hikes to curb inflation have had a negative impact on the banking industry. She also warned, Republicans should not pass a proposal to raise the US$31.4 trillion debt ceiling in exchange for deep government spending cuts, which would make the economy worse.
"Reuters" reported that Busay said Congress could easily eliminate the risk of default by raising the debt ceiling, while the broader issue of interest rates and its impact on bank assets is a more complex issue that no single agency has the capacity to solve.
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The Federal Reserve will end its policy rate meeting on Wednesday (3rd), and it is estimated that it will raise interest rates by 1 yard this time.
U.S. President Biden on Monday (1st) summoned 4 top congressional leaders, 2 Democrats and 2 Republicans, to the White House on the 9th to discuss the debt ceiling issue.
The U.S. Treasury Department has previously warned that the government could run out of cash as soon as June 1, leading to further defaults.
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