When Treasury Secretary Jacob J. Lew told the Senate Finance Committee last week that the Obama administration would never bargain over raising the nation’s debt limit, it was a declaration the lawmakers had heard before.
U.S. Treasury Secretary Jacob J. Lew is trying to persuade Congress to raise the $16.7 trillion debt ceiling without the drama that contributed to a stock market rout in 2011. A stronger economy this time around may help keep investors calm.
The cost of living in the U.S. rose less than forecast in August, a sign it will take time for inflation to reach the goal of Federal Reserve policy makers as they consider trimming stimulus designed to bolster the economy.
U.S. Treasury Secretary Jacob J. Lew stepped up pressure on Congress to avert a potential default, telling lawmakers in a letter that measures to avoid breaching the debt ceiling will be exhausted on Oct. 17.
The U.S. Congress may have scope to extend debt-limit negotiations for weeks past the mid-October date when Treasury Secretary Jacob J. Lew has said the nation will exhaust its borrowing authority, according to analysts at Credit Suisse Group AG and Jefferies LLC.