Goldman Sachs warns of a 'real risk' that America could default on its debt
CNN
Concern is rising on Wall Street over Washington's debt ceiling game of chicken. Goldman Sachs warned clients on Wednesday that Congress may fail to raise or suspend the debt ceiling prior to the October 18 deadline.
"It looks unlikely that Congress will address the debt limit before the last minute, and there appears to be a material risk that Congress fails to act by the October 18 deadline," Goldman Sachs economists wrote in in a note.
The Wall Street bank added that a "lapse in borrowing authority looks like a real risk," although that lapse would "probably be brief."
More Related News