US Treasury Secretary Steven Mnuchin admitted to Congress on Friday that the government will reach its $22tn borrowing ceiling in autumn. This development adds to global economic volatility, amid a Sino-American trade war and the threat of a no-deal Brexit.
With a short letter to the Democratic speaker of the House of Representatives, Nancy Pelosi, Mnuchin warned that the Congress may have to take legislative action to increase the debt ceiling before its August recess. Both the Congress – with...

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