Brainard Says Budget Deal Talks Constructive, Bank System Sound
- NEC director says staff-level talks on deal are ‘serious’
- Brainard says failed banks didn’t manage risk, system is sound
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President Joe Biden’s staff negotiations with House Speaker Kevin McCarthy’s office on a spending package that would avert a US default are serious and continuing, National Economic Council Director Lael Brainard said Sunday as she repeated calls for Congress to lift the debt limit.
“The staff is very engaged. I would characterize the engagement as serious, as constructive,” Brainard told CBS’s Face The Nation on Sunday, warning that a default would be “catastrophic” for the economy.