Is US about to run out of cash? What market expert Ajay Bagga thinks
US debt ceiling news: In conversation with Zee Business Managing Editor Anil Singhvi, independent market expert Ajay Bagga said the US administration, in his view, is unlikely to default though there might be some nervousness in the markets.
![Is US about to run out of cash? What market expert Ajay Bagga thinks Is US about to run out of cash? What market expert Ajay Bagga thinks](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2023/05/03/240175-us-debt-ceiling-news-deadline.jpg?itok=nYsN6ZR3&c=c5af8c0f92ccc8e249257bf0f1cb18e8)
US debt ceiling news: In conversation with Zee Business Managing Editor Anil Singhvi, independent market expert Ajay Bagga said the US administration, in his view, is unlikely to default though there might be some nervousness in the markets. Remarks from Bagga come days after US Treasury Secretary Janet Yellen warned that the US may run out of cash by June 1 if Congress fails to address the issue by either raising or suspending the debt ceiling.
Currently, the Joe Biden administration in the US is approaching a debt ceiling, which means the government is unable to borrow any more funds.
What Ajay Bagga tells Anil Singhvi on US debt ceiling
"This will impact the market," said Bagga. The US may sustain till August and September, he said.
Some highlights on US debt ceiling crisis
First up, here are some things you need to know about the current situation in the US administration:
- Currently, the ceiling stands at $31.4 trillion
- Janet Yellen has pointed out a deadline as early as June 1 by which US must raise its debt ceiling or face a financial crisis
- The US Treasury Secretary has urged Congress to act "as soon as possible" to address the limit
- US President Joe Biden has called a meeting of congressional leaders on May 9
- All in all, US debt ceiling has been revised as many as 78 times over a period of more than six decades
- The news comes at a time when regional US banks have posted massive declines after the failure of First Republic and the subsequent sale of its assets to JPMorgan Chase.
What is a debt ceiling?
A debt ceiling is the amount of money the US Treasury is authorised to borrow to pay its bills.
With inputs from Reuters
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
01:05 PM IST