When Wall Street Bosses Squeeze Politicians
The political battle over the debt ceiling in the United States could shake the global financial market, given the still dominant role of the US dollar in trade transactions and international debt.
Yopie Hidayat
May 22, 2023
THE United States is being held hostage by a dangerous political battle. By the end of last week, President Joe Biden and House Speaker Kevin McCarthy had failed to reach a compromise on raising the government’s debt ceiling. This is a critical issue. Without additional borrowing, the US government would soon run out of money and default on various obligations.
According to calculations by Treasury Secretary Janet Yellen, the nation’
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