Risk of US default could spell turmoil for entire global economy

The US has seen its rate of inflation fall since peaks last year and unemployment remains at historic lows. This is despite the looming threat of a recession and a series of bank failures that have rattled markets that upended regional financial institutions. But none of these problems compared to the threat posed by a legislative deadlock over whether the US should pay its debts. The remaining money will run out by June 1st, forcing bitter political rivals to the negotiating table. What are they arguing over? Wilson Dizard has more.

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