Speaker of the House Kevin McCarthy (R-CA) said, “The President and I had a good first meeting,” referring to negotiations on raising the U.S. debt ceiling. McCarthy added, “I can see where we can find common ground.” While Democrats introduced legislation to remove the debt ceiling entirely, House Republicans are using their majority in the House to win concessions and reduce government spending. The U.S. Treasury Department has said that the U.S. can meet it’s obligations until June, but Federal Reserve chair Jerome Powell said, “There is only one way forward here and that’s for Congress to raise the debt ceiling.”
