US House of Representatives leader McCarthy:
- "Everybody in this meeting reiterated the positions" they long held. "I didn't see any new movement"
- staff level talks will continue
US Senate leader McConnell says the US government is not going to default
- says the solution to the stand off lies with McCarthy and Biden
- US has just 2 weeks to raise the debt ceiling
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Market response is minor only. This issue recurs every year, and so far its always been resolved, although sometimes it takes longer than others.
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Old cartoon from previous debt ceiling negotiations:
