Fitch Ratings could downgrade more than 70 US banks including JP Morgan Chase if the banking industry suffers another downgrade, Fitch analyst Chris Wolfe told an American news agency in an interview on Tuesday.
The bar was set low for Kevin McCarthy, a newcomer to the speakership, while Joe Biden is an unpopular president who first refused to talk on lifting the debt ceiling. Also, the fact that they are on opposing sides in Washington s political fight makes their feat all the more remarkable
The bar was set low for Speaker of the House Kevin McCarthy, known more for politicking and fundraising than for policymaking. But, in the end, he delivered a debt-limit agreement that few expected, leaving some of his Republican colleagues feeling deceived
The House has cleared the US debt ceiling deal that was earlier clinched between President Joe Biden and House Speaker Kevin McCarthy to avert a looming government default.