“Top officials from the Biden administration have begun calling corporate CEOs about the looming debt limit, urging them to reach out to members of Congress to try to instill some urgency about the crisis,” Punchbowl News reports.
“The extent to which House and Senate Republicans care about this kind of outreach from chief executives is questionable.”
“This does signal a new level of nervousness at the White House in pressuring Congress ahead of a default. And it shows that Wall Street and corporate America are getting antsy about the lack of urgency on Capitol Hill even as the Treasury Department warns that the U.S. government could hit the default deadline as early as June 1. Yields on Treasury bonds have already begun to rise as investors grow concerned about a potential fiscal meltdown.”
