Scott Bessent, the US Treasury Secretary, warned that the debt ceiling is on the “warning track” with a critical estimate of cash depletion expected shortly. The federal debt cap of 36.1 trillion USD necessitates immediate action to prevent payment defaults.
Bessent urged US investors to focus on strong economic fundamentals rather than political criticisms, highlighting the potential adverse impacts on global markets if payments are missed. He reassured them of a favorable business environment in the near future.
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