Money Mayhem
09/08/2021 |
The US Treasury will, unless the debt ceiling is raised, start running out of money around Halloween. The term of Fed Chairman Powell ends on 1/31/22. President Biden must realistically announce his decision before Thanksgiving. Lastly, Congress must pass a budget, or a continuing resolution by 10/1/21, the start of FY22, otherwise the government closes. If any of these aren’t successfully resolved, markets will take note; it won’t be pretty.