United States President Joe Biden said the deal with the Republican leadership on the debt ceiling is "very close" and that negotiations will continue."I hope we'll have some clearer evidence tonight before the clock strikes 12, that we have a deal. But it's very close and I'm optimistic," he said.
House GOP leadership said progress is being made and that there is still time to pass legislation to avoid default if a deal is struck soon enough. The US is set to run out of funds to settle its bills by June 5.
