• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 30
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Republic Pushback on Debt Ceiling Agreement Could Lead to Market Volatility
Finance

Republic Pushback on Debt Ceiling Agreement Could Lead to Market Volatility

May 28, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Republic Pushback on Debt Ceiling Agreement Could Lead to Market Volatility
Share
Facebook Twitter LinkedIn Pinterest Email

Financial markets could be volatile on Tuesday as a result of the tentative debt ceiling deal reached by President Biden and Kevin McCarthy because the deal faces a potential Republican rebellion in the House.

Key Takeaways

  • Andrew Clyde and Chip Roy have announced plans to push back against the tentative deal reached by President Biden and Kevin McCarthy.
  • U.S. stock markets could build on Friday’s rally and reverse weeks of outflows.
  • The White House statement acknowledged that not everyone would get what they wanted when the deal was tentatively agreed to.

Andrew Clyde and Chip Roy are two Republicans pushing back against the deal citing $4 trillion in additional debt with “none of the key fiscally responsible policies passed”. Republican Ken Buck said he was “appalled” by a debt ceiling “surrender” and an estimated $35 trillion in U.S. debt by 2025.

It is impossible to say for sure how the market will respond on Tuesday. A debt ceiling agreement could lead to a big rally in U.S. stock markets after “massive” outflows during the negotiations. Reuters reported that in the week ended May 10, U.S. equity funds suffered outflows worth $5.7 billion, marking a seventh consecutive week of outflows. In the week to May 24, global money market funds received around $17.6 billion worth of inflows, the largest in three weeks as investors fleed to overseas markets. Credit rating agencies put the U.S. on “watch” for a potential downgrade ahead of the weekend.

The tentative agreement to raise the $3.14 trillion debt ceiling for two years would mean that further negotiations would not arise until after the 2024 election. Under the terms of the agreement, nonmilitary spending would remain flat in fiscal 2024 and rise by 1% in 2025. McCarthy said the deal would be “transformational” and would make the country stronger. Biden acknowledged, “The agreement represents a compromise, which means not everyone gets what they want.”

See also  Politburo Proposals Spark Optimism in China’s Troubled Property Market

Treasury Secretary Janet Yellen warned that the failure to reach a deal could lead to “economic chaos” with the government unable to pay its bills as early as June 5.

Maya MacGuineas, President of the Committee for a Responsible Federal Budget, said, “We cannot default. It would be beyond stupid. We could create a recession here. We could create a recession around the world.”

ING Bank’s Carsten Brzeski said a default was the “mother of all crises,” but he also said that the U.S. could avoid a technical default for a few weeks by paying bondholders at the expense of other budgetary items, such as social security benefits and healthcare. The S&P 500 staged a 1.45% rally on Friday, and if a deal passes, it could lead to a strong week of gains as spooked investors rush back to the U.S. market.

Agreement ceiling debt Lead market Pushback Republic Volatility
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025

How China’s Companies Are Responding to the US Trade War

April 16, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

TikTok cracks down on users posting about weight loss drugs

July 22, 2023

Sam Jones ‘Talent Show’ Series Has Michael Shannon Chatting, Singing

September 17, 2023

Venezuelans’ Favorite Option in Opposition Presidential Primary Is ‘Nobody’

May 6, 2023

Conservatives hope Supreme Court defangs US consumer watchdog

September 12, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

The Best Sunday Riley Products at QVC| Well+Good

January 21, 2024

‘What I Am Is a Proud American’

July 25, 2023

Schools Told to Keep Buildings Shut Amid Risk of Crumbling Concrete

September 4, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.