BlackRock CEO: Debt Ceiling Drama Has Eroded Trust in U.S. Dollar
A few hours back, the House of Representatives passed the debt ceiling bill, green-flagging the U.S. to borrow more money. Despite receiving fair opposition, the bill passed the House with a 314-117 vote, suspending the $31.4 trillion upper cap. Now, the U.S. Senate must vote on the bill later this week, before President Joe Biden signs the measure into law. Meanwhile, it is projected that the government will hit its borrowing limit on June 5. JUST IN: US House passes debt ceiling bill. — Watcher.Guru (@WatcherGuru) June 1, 2023 After the vote, President Joe Biden tweeted, “Tonight, the House took a critical step forward to prevent a first-ever default and protect our country’s hard-earned and historic economic recovery… I urge the Senate to pass it as quickly as possible so that I can sign it into law, and our country can continue building the strongest economy in the world.” Ripple effects of the debt ceiling chapter Even though the House passed the bill, several from...