U.S. Treasury's Debt Ceiling Strategy Unveiled

The U.S. Treasury plans to raise the debt ceiling using a budget reconciliation bill in the Republican-led Congress. Treasury Secretary Scott Bessent emphasizes the urgency, cautioning that without action by June, financial operations could face critical challenges.

The U.S. federal government is aiming to increase its debt ceiling through a budget reconciliation bill currently under consideration in the Republican-dominated Congress, according to Treasury Secretary Scott Bessent.

Bessent announced the strategy during an interview on FOX Business network's "Mornings with Maria" program, highlighting the intention to manage the nation's financial obligations effectively.

He cautioned that while the aim is to prevent reaching the debt ceiling, decisive action is crucial by June to avoid potential economic repercussions.

(With inputs from agencies.)