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Search resuls for: "Andrea Shalal Nandita Bose"


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☆ Biden will talk budget but won't negotiate debt ceiling in Congress meeting
  + stars: | 2023-05-02 | by ( Andrea Shalal Nandita Bose | Andrea Shalal | Nandita Bose | ) www.reuters.com   time to read: +2 min
WASHINGTON, May 2 (Reuters) - President Joe Biden will not negotiate over the debt ceiling during his meeting with four top congressional leaders on May 9, but he will discuss starting "a separate budget process" to talk about spending priorities, the White House said on Tuesday. "He is not going to negotiate on the debt ceiling," White House press secretary Karine Jean-Pierre said. The White House and Biden have previously asked Republicans for a clean debt ceiling hike and offered to discuss spending once the risk of default is off the table. The White House knew Yellen's letter would be released on Monday, Jean-Pierre said. Biden called Republican House Speaker Kevin McCarthy in Jerusalem, where he is on a diplomatic trip, to invite him to the May 9 White House meeting.
☆ Biden says White House response to banking stress is 'not over yet'
  + stars: | 2023-03-28 | by ( Andrea Shalal Nandita Bose | Andrea Shalal | Nandita Bose | ) www.reuters.com   time to read: +2 min
DURHAM, North Carolina, March 28 (Reuters) - U.S. President Joe Biden said on Tuesday his administration had done what was possible to address the banking crisis with available authorities, but added the White House response on the matter was "not over yet." The markets seem to be responding," Biden told reporters before departing North Carolina to return to the White House. Asked if his administration had exhausted its unilateral moves, short of congressional action, to address stress in the banking sector, Biden said: "No, it's not over yet. The failures of Silicon Valley Bank (SVB) and, days later, Signature Bank (SBNY.O), set off a broader loss of investor confidence in the banking sector that pummeled stocks and stoked fears of a full-blown financial crisis. The Biden administration quickly adopted a series of emergency measures to protect depositors in the two banks, while the Federal Reserve provided additional liquidity to help banks across the sector cover depositors' needs.
☆ Biden's $6.8 trillion budget challenges Republicans, raises taxes on rich
  + stars: | 2023-03-10 | by ( Trevor Hunnicutt Andrea Shalal Nandita Bose | Trevor Hunnicutt | Andrea Shalal | ) www.reuters.com   time to read: +7 min
Overall, the budget would increase federal spending in the twelve months starting in October to $6.8 trillion from the $6.2 trillion expected to be spent in the current fiscal year. Biden's budget proposal faces stiff opposition from Republican lawmakers emboldened by winning control of the House of Representatives in November's midterm elections. Biden, asked for areas of possible compromise with Republicans, told reporters at the White House: "We'll see what their budget is." Maya MacGuineas, president of the Committee for a Responsible Federal Budget advocacy group, said the budget did not go nearly far enough to rein in dangerous debt levels. The Committee for a Responsible Federal Budget, a non-partisan Washington think tank, said Biden deserved credit for for putting forward $3 trillion in deficit reduction.
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