Kevin McCarthy Firmly Believes Debt Ceiling Deal Will Be Reached

Crypto Market News: Top Republican leader Kevin McCarthy on Wednesday said he was optimistic about getting a deal despite the fact that there is a long way to go before reaching consensus to commit to a deal on raising the debt ceiling. He addressed the concerns around the status of deal talks amid market uncertainty before the June 1, 2023 deadline, during a press conference. Importantly, he said there could be progress made later today, in the context of a halt in deal talks since his Monday meeting with US President Joe Biden.

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The U.S. Markets continue to feel the heat from the delay in debt ceiling deal talks since Monday, as the S&P 500 Index, Dow Jones and Nasdaq continue to trade in the red. Similarly, Bitcoin price appears to be in bearish waters until some clarity on deal status is reached.

Kevin McCarthy: No Debt Default

Speaking at a press conference, the top Republican said he doesn’t think there will be a defaultm and that he firmly believes the leaders will be able to get a deal. However, he said both sides are still far apart on debt talks but can get to saying yes for a deal.

“There are still differences over spending. I am sending our negotiators down to the White House to try and finish up the talks.”

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected].

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