Treasury Secretary Janet Yellen stated in a May 1 letter that the government may run out of extraordinary measures to meet its debt obligations as early as June 1. Karl Russo discusses the continuing debt limit discussions and other economic developments, including the strong labor market and slow economic growth.

IN THIS EPISODE
Karl Russo, Leader, PwC’s National Economics & Statistics Practice
Lili Kazemi, Host, Policy on Demand
Andrew Prior, Host, Policy on Demand

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Happening this week:
- The House and Senate are in session this week.
- President Biden will meet May 9 with Congressional leaders to discuss possible solutions to the debt limit issue.
- The House Ways and Means Committee will hold a May 9 field hearing in Staten Island, New York focused on trade issues.
- The Senate Finance Committee will hold a May 11 hearing on the impact of US international tax policy on the pharmaceutical industry and related issues. PwC’s Will Morris is one of the witnesses scheduled to testify.
- New inflation data will be out this week with the May 10 release of the April consumer price index report and the May 11 release of the April produce price index report.
- The G7 finance ministers will meet May 11-13 in Niigata, Japan.