Mccarthy Confident On Debt Deal

House Speaker Kevin McCarthy expressed confidence that the United States will not default on its debt as negotiations in an interview with CNBC. McCarthy, who recently met with President Joe Biden and other congressional leaders, refrained from stating optimism about the talks but acknowledged Biden's willingness to negotiate. Lifting the debt ceiling is crucial to cover spending commitments already approved by Congress and prevent default. The Treasury Department has taken measures to avoid default until early June, and Treasury Secretary Janet Yellen warned that failure to raise the debt ceiling would result in an "economic catastrophe."