United States House Minority Leader Hakeem Jeffries said on Wednesday that he is "optimistic" Democrats and Republicans will be able to find "common ground" and reach a deal on lifting the debt limit within the "next week or so."
Speaking to CNBC, Jeffries warned that a failure to reach an agreement could result in a "catastrophic default" that would likely cause a "job-killing recession."
The two parties are yet to reach an agreement, but House Speaker Kevin McCarthy has also expressed confidence that a deal with the Democrats by the end of the week is "possible."
