Fed Chief Warns of 'Dangerous' Debt Ceiling Brinkmanship

The president of the Federal Reserve Bank of Chicago cautioned that negotiating the debt ceiling close to the deadline could have negative consequences.
Raising the debt ceiling is crucial to avoid harming the financial system and economy, according to the Fed president.
President Biden and House Speaker Kevin McCarthy have agreed to raise the debt ceiling to avoid default.
The deadline to address the debt ceiling is June 5; failure could lead to default and catastrophe.
The Fed aims to maximize employment and stabilize prices; the debt ceiling is Congress's decision, the Fed president said.