Omaha, NE — Creighton University economist Erie Goss says he expects DC negotiators will strike a deal to raise the federal government’s debt ceiling.
But Goss says investors should expect volatility as the stalemate between Republicans in congress and President Biden remains unresolved.
If the impasse isn’t resolved before the U.S. government runs out of cash to pay its bills, Goss says things like Social Security checks could be delayed. The main impact of default, according to Goss, would be damage to the U.S. dollar, since central banks in other countries hold U.S. currency in reserve.
Goss says it would aid China’s push to make the Yuan the reserve currency of the globe. Having the U.S. dollar be the dominant currency around the world aids U.S. trade and creates stability for the goods and services Americans buy.
