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CNN CNN This Morning Weekend June 4, 2024 13:11:00

you mentioned the brinksmanship that we ve seen in years past, the u.s. got dinged at one point for getting dangerously close to defaulting. are you optimistic we ll see a deal before june when that default is estimated to happen? i m not super optimistic that we ll see a deal before the last minute. i think that that is our lesson, unfortunately, with these standoffs in the past. and that could be a real problem. what we saw in 2011 when we got closest to going over the debt limit cliff was that mortgages got more expensive, business borrowing got more expensive, consumer confidence went down. there were real economic effects and i think we could see them again this time. politico is reporting that former president trump has a warning asking them not to touch medicare or social security in the debt limit fight. it s the focus of some fiscal hawks that are determined to make changes to entitlements. ....

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Supervision And Regulation – Federal Reserve Vice Chair For Supervision Randal K. Quarles, Before The Committee On Financial Services, U.S. House Of Representatives, Washington, D.C.


Supervision And Regulation – Federal Reserve Vice Chair For Supervision Randal K. Quarles, Before The Committee On Financial Services, U.S. House Of Representatives, Washington, D.C.
Date
18/05/2021
Chairwoman Waters, Ranking Member McHenry, members of the Committee, thank you for the invitation to testify today. Last May, my colleagues and I came before you in a virtual format for the first time discussing our actions to maintain a strong banking sector as a source of support for consumers, households, and businesses. I d like to thank the Committee for its flexibility and its commitment to ongoing, open dialogue, especially in the course of such a challenging year. ....

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