Debt ceiling deadline to come at a tricky time for the Fed - ING
|Analysts at ING explained that the Debt ceiling deadline to come at a tricky time for the Fed.
Key Quotes:
"As little as two days between Fed meeting and debt ceiling deadline."
"The US debt ceiling was raised in the aftermath of the hurricanes and the new deadline looks set to fall just after the December Fed meeting."
"If there is no agreement to raise the debt limit, the US government will be unable to borrow money."
"In the past, we have seen hundreds of thousands of workers furloughed because of this."
"During the 2013 crisis the US lost its AAA rating with S&P and the Dow Jones equity index fell 17%. If this results in significant market volatility, the Fed may opt to defer a rate hike into 2018."
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