US debt default ‘likely’ in second half of 2023: Bank of America

Yahoo!Finance/Dan Weil/1/14-2023

“’We think it is likely that by late summer or early fall, the federal government will temporarily be forced to default on a portion of its daily obligations for a time ranging between a couple of days to a few weeks,’ he wrote in a commentary.”

USAGOLD note: So says Bank of America’srates strategist Ralph Axel. Usually these disputes resolve themselves before any permanent damage is done, but this time around it is being given more gravity, given the agreements supposedly made between the new speaker of the House and the rebel faction of the Republican party.