U.S. President Joe Biden and Speaker Kevin McCarthy have struck a tentative deal on Saturday to raise the US debt ceiling in an ‘agreement in principle’. If approved, it averts a looming default that will bring relief to nervous markets and bring a sense of relief to the global economy. This was the 79th time it’s been raised since 1960. The US has defaulted four times, the last 1971 when the U.S. left the Bretton Woods convention. Next step is … Continue reading “US Debt Ceiling Deal Done, What is In and Out, the Next Steps”