this is gps, the global public square. welcome to all of you in the united states and around the world. i m fareed zakaria coming to you live from new york. today on the program president biden finished a round of meetings with world leaders in japan as the debt ceiling drama continues back home in washington. we ll talk about all that plus ukraine s coming counter offensive and much more with the smart panel just back from kyiv. also, pakistan is on edge after its former prime minister imran khan was arrested and released last week. now he fears for his life, and he will join me for his side of the story. but first, here s my take. many of us had high hopes f turkey s general election believing that a flat-out
consumer sentiment hit six-month lows since friday. and debt ceiling drama is unresolved. the nasdaq finished higher. inflation rose $3.54 a gallon. retail sales, existing home sales, weekly jobless claims but really, the most important thing is getting the debt ceiling fixed. the end of the month, that s when the u.s. could run outside of money if the agreement isn t found to raise the debt limit. talks are set to continue. no end in sight. joining me gene marks, president of the marks group. excited to have you on this morning. we re running out of time to fix this. you advocate specifically for small business, how concerned are you that congress won t be able to do this, to avoid a default, at least in the very near term? and what will that do to small businesses? hey, christine, thanks for having me on. it s obviously a big concern for
sure that they can pay all the bills here. why isn t there more urgency on the washington side? you ve hit on the key factor. i think that it boils down to this, the financial markets have not shown much anxiety. maybe the t-bill market yields have moved higher. but for the stock market in general, there is a feeling that little boy who cried wolf, this will get solved at the last minute which we ve seen in the past. but this is different. i think that the militants in the house are a new factor here. and for the markets to be this sanguine to me is not warranted. s&p 500 up almost 8% this year. you d think so close to a debt ceiling drama that the stock market wouldn t be up. but where you see the stress is in the treasury market and of course that is much bigger and cornerstone of the entire financial system. all right, greg, thank you. quick hits across america.
we look forward to some response at some point. andrew kaczynski, thank you for that. appreciate it. jim? the debt ceiling drama is reaching new levels. president biden calling it a manufactured crisis and meeting cabinet member. we ll speak to transportation secretary pete buttigieg about the ongoing debate coming up. and, it is coronation eve in the united kingdom. we ll tell you how the royals and the country are preparing. ( ) unique style, ( ) ( ) ..nd thoughtful details. .inspired by you. ( ) from the brand that delive amazing ownership experiences,