United States Deputy Treasury Secretary Wally Adeyemo stated on Monday that a default on the debt ceiling could have a severe negative impact on the economy.
During an interview with NPR, the US official mentioned that it's currently challenging to predict the exact time when the US will be unable to fulfill its financial obligations in the event of a default. Adeyemo added that such an occurrence would undoubtedly lead to an increase in borrowing expenses.
Previously, NBC News reported that President Biden will meet congressional leaders on Tuesday. Reflecting on the topic, the president said yesterday he remains "optimistic" about lifting the country's debt ceiling.
