| The news of the day which no doubt would affect markets.. Is Biden preparing to invoke the 14th amendment which was written about paying off civil war debts.. to bypass the debt ceiling limit?
https://www.politico.com/news/2023/05/19/biden-14th-amendment-debt-ceiling-00097930
”The White House has studied the issue for months, with some aides concluding that Biden would likely have the authority to declare the debt limit unconstitutional as a last-ditch way to sidestep default. But Biden advisers have told progressives that they see it as a poor option overall, fearing such a move would trigger a pitched legal battle, undermine global faith in U.S. creditworthiness and damage the economy. Officials have warned that even the appearance of more seriously considering the 14th Amendment could blow up talks that are already quite delicate.“
If Biden goes for this.. what would the market fallout be? Credit ratings slashed? Rising interest rates? |