Fed’s Goolsbee Says U.S. Debt Ceiling Deal Avoids ‘extremely Negative’ Consequences

By Ann Saphir (Reuters) -Chicago Federal Reserve Bank President Austan Goolsbee on Sunday welcomed news of a deal to suspend the U.S. debt ceiling, saying failure to forge an agreement would be “extremely negative” for the financial system and broader economy. Interviewed on CBS’s “Face the Nation,” he declined to say whether he would support an interest-rate hike at the Fed meeting on June 13-14. He said the full impact of central bank rate increases … Read more…

McCarthy Predicts Debt Ceiling Deal Will Pass U.S. House With Republican Support

By Moira Warburton and Diane Bartz WASHINGTON (Reuters) -Republican U.S. House Speaker Kevin McCarthy on Sunday dismissed vehement opposition among party hardliners to a new agreement with President Joe Biden to suspend the $31.4 trillion debt ceiling, predicting that most House Republicans would support the deal. After weeks of tough negotiations McCarthy and Biden reached a tentative agreement this weekend, but now face the challenge of getting a deal through the Republican-controlled House of Representatives … Read more…

Fed’s Goolsbee: Won’t Prejudge June Rate Decision

(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Sunday he won’t ‘prejudge’ whether he would support an interest-rate hike at the upcoming Fed meeting in June, but noted that the full impact of the central bank’s rate increases to date have yet to be felt. “We are going to get a lot of important data between now and then,” Goolsbee told CBS’s Face the Nation. “The actions that the Fed takes take … Read more…

US Review Of China Tariffs Won’t Depend On Trade ‘breakthrough’-Deputy USTR

By David Lawder DETROIT (Reuters) -The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any “breakthrough” in U.S.-China trade relations, Deputy U.S. Trade Representative Sarah Bianchi told Reuters. The Biden administration is not assuming any such breakthrough will happen, but will continue dialogue with China at various levels, Bianchi said in an interview on Saturday as a … Read more…

Republicans Criticize McCarthy, Biden Debt Ceiling Deal

By Moira Warburton, Katharine Jackson and Gram Slattery WASHINGTON (Reuters) -After tough negotiations to reach a tentative deal with the White House on the U.S. borrowing limit, the next challenge for House Speaker Kevin McCarthy is pushing it through the House, where hardline Republicans are already threatening to sink it. As Democratic and Republican negotiators iron out the final details of an agreement to suspend the federal government’s $31.4 trillion debt ceiling in coming days, … Read more…

US Review Of China Tariffs Won’t Depend On Trade ‘breakthrough’-Deputy USTR

By David Lawder DETROIT (Reuters) -The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any “breakthrough” in U.S.-China trade relations, Deputy U.S. Trade Representative Sarah Bianchi told Reuters. The Biden administration is not assuming any such breakthrough will happen, but will continue dialogue with China at various levels, Bianchi said in an interview on Saturday as a … Read more…

France In ‘very Close Discussions’ With S&P Ahead Of Rating Update

PARIS (Reuters) – French Economy Minister Bruno Le Maire is in “very close discussions” with credit ratings agency Standard and Poor’s, which put France on notice in January for a possible downgrade, Prime Minister Elisabeth Borne said on Sunday. The agency, which is due to give an update on France on June 2, said a downgrade from its current “AA” rating could be triggered by a lack of reforms that it said France needed to … Read more…

McCarthy’s Next Challenge: Sell Debt Ceiling Deal In Congress

By Moira Warburton, Katharine Jackson and Gram Slattery WASHINGTON (Reuters) – After tough negotiations to reach a tentative deal with the White House on the U.S. borrowing limit, the next challenge for House Speaker Kevin McCarthy is pushing it through the House, where it may be opposed by both hardline Republicans and progressive Democrats. As Democratic and Republican negotiators iron out the final details of an agreement to suspend the federal government’s $31.4 trillion debt … Read more…

ISS Backs Toyota Shareholder Proposal On Climate Disclosure

By Daniel Leussink and Makiko Yamazaki TOKYO (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change. The recommendation comes as Japan’s largest company by market capitalisation faces pressure from green investors and climate activists which have criticised it for being slower than rivals to embrace all-battery electric vehicles (EVs). … Read more…

US Review Of China Tariffs Won’t Depend On Trade ‘breakthrough’-Deputy USTR

By David Lawder DETROIT (Reuters) – The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any “breakthrough” in U.S.-China trade relations, Deputy U.S. Trade Representative Sarah Bianchi told Reuters. The Biden administration is not assuming any such breakthrough will happen, but will continue dialogue with China at various levels, Bianchi said in an interview on Saturday as … Read more…