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The Senate approves a temporary increase in the US debt ceiling

Field: ABM Financial News

(ABM FN-Dow Jones) The US debt ceiling will be raised by $ 480 billion, allowing the federal government to defer its debt obligations until December 3. The U.S. Senate voted in favor Thursday evening, according to local time.

There were 50 votes in favor and 48 votes against.

The House of Representatives must also approve the bill before President Joe Biden can sign it.

“This will extend the deadline for negotiations for the final US budget agreement to December, so this is not the real solution,” said Simon Weirsma, ING’s investment manager.

U.S. Treasury Secretary Janet Yellen has repeatedly warned that her ministry will run out of funds in mid-October if a solution is not found.

Pron: ABM Financial News

From Beursplein 5, the authors ABM Financial News Carefully monitor the progress of the stock markets and especially the Amsterdam Stock Exchange. The information in this column is not for professional investment advice or recommendation for making specific investments.

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