Debt Limit Negotiators Resume Talks

The transcript discusses the US debt ceiling issue, highlighting its impact on President Biden's Asia trip and ongoing negotiations between the White House and Republican leaders. Janet Yellen warns of financial deadlines, emphasizing the urgency of reaching an agreement by June 1st to avoid dire consequences like defaulting on debt or suspending Social Security payments. The administration has been cautioning about these risks since January, as extraordinary measures are nearing exhaustion.

What is the significance of President Biden's call with House Speaker Kevin McCarthy?

How has the tone of negotiations changed over the past 48 hours according to the text?

What warnings did Janet Yellen provide regarding the US financial situation?

What are the potential consequences if the US cannot meet its financial obligations by June 1st?

What does the term 'extraordinary measures' refer to in the context of the US Treasury?