Pelosi, Mnuchin Speak Again on Debt Limit as Time Runs Short

 

• The perennial problem that is the U.S. debt limit is oozing its way back onto the agenda.
• Treasury Secretary Steven Mnuchin said that under one of the Treasury Department’s scenarios, the country will be at risk of defaulting on payment obligations in early September.
• With Congress due to start its recess on July 26 and not return until mid-September, there is some pressure to agree on a way forward in the coming weeks.
• Mnuchin is in Paris for a meeting of G-7 finance chiefs where the French are busy pushing for agreement on a digital tax on tech giant profits. 

(Source: Bloomberg)