Kevin McCarthy, the Republican House speaker, said there would be no progress in debt ceiling talks until US president Joe Biden returns from the G7 summit in Japan late on Sunday, as tensions flared in the fiscal stand-off threatening the world’s largest economy.
Speaking to reporters in the US Capitol on Saturday afternoon, McCarthy accused the White House of moving “backwards” in the negotiations over a budget pact, dashing hopes of a breakthrough that could soothe markets before they open on Monday.
“I don’t think we’re going to be able to move forward until the president can get back in the country,” McCarthy said.
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