Debt Default Impact On US Economy
from Market Watch Hosted by BFM Media
Tim Mulholland of China Americal Capital Company still reiterates that US is unlikely to default on its obligations, and compromises on budget cuts will be reached likely in the areas of education and incentives for agriculture. It is unlikely that the Fed will need to flood the market with more money as there is ample liquidity to ensure banks can continue to lend as normal should US debt be downgraded to AA. We are likely to see the market rally sharply next week when uncertainty about the debt ceiling is removed.
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