IMF: US should consider replacing debt ceiling with automatic adjustment mechanism
|Gerry Rice, Director of the Communications Department at the International Monetary Fund (IMF), said on Thursday that it is important for the US government to find a debt limit solution that avoids a "counterproductive brinksmanship," per Reuters.
"The US should consider replacing debt ceiling with automatic adjustment mechanism or clear medium-term fiscal objective," Rice added.
Market reaction
This report doesn't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was down 0.52% on the day at 4,457.
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