Federal Reserve Chair Jerome Powell arrived for a meeting with a group of House Democrats Tuesday amid an ongoing standoff in Washington over raising the US debt limit.
(Bloomberg) — Federal Reserve Chair Jerome Powell arrived for a meeting with a group of House Democrats Tuesday amid an ongoing standoff in Washington over raising the US debt limit.
The meeting, with the moderate New Democrat Coalition, has long been planned and is not in response to the debt-limit deadline, NDC spokeswoman Emma Weir said.
Treasury Secretary Janet Yellen reiterated Monday that her department will run out of sufficient cash as soon as June 1. President Joe Biden and House Speaker Kevin McCarthy are trying to hammer out a budget deal and avert a potential default.
Powell did not respond to a question as he walked into the meeting.
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