Federal Debt Ceiling
![View of the Grand Tetons from Jackson Lake Lodge in Wyoming where economists and central bankers from around the world convened August 24-26, 2023 for the annual Jackson Hole Economic Symposium. Source: Wikimedia Commons](https://www.nabl.org/wp-content/uploads/2023/08/Grand-Teton-National-Park-1024x724.jpg)
While We Were Out
We took a break from the Wrap while Congress adjourned for August recess, but this month was nonetheless a busy one. Catch up quickly on updates from while we were…
![President Joe Biden addresses the nation from the White House in Washington, D.C. on the debt ceiling agreement on May 28, 2023. Source: White House](https://www.nabl.org/wp-content/uploads/2023/05/Biden-Debt-Ceiling-WH-1024x579.jpg)
Tracking the Debt Deal
Here’s what we know on the Biden/McCarthy deal to suspend the debt ceiling for two years.
![US Treasury Building in Washington DC](https://www.nabl.org/wp-content/uploads/2023/01/US-Treasury-Building-in-Washington-DC-1024x768.jpg)
SLGS Window Closes
As the federal government continues to move closer to its debt ceiling x-date, all options are on the table.
![Speaker of the U.S. House of Representatives, Kevin McCarthy, speaks on April 17, 2023 to the New York Stock Exchange about the status of the federal debt ceiling.](https://www.nabl.org/wp-content/uploads/2023/04/Kevin-McCarthy-at-NYSE-1024x665.jpg)
House Republicans Unveil Debt Ceiling Plan
Speaker McCarthy released a bill to raise the debt ceiling in exchange for a number of Republican priorities. What we know and don’t know.
![Chair Powell presents the Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs in 2018.](https://www.nabl.org/wp-content/uploads/2023/02/FRB-Chair-Jerome-Powell-Testimony.jpg)
Fed Eases but Stays the Course
Big news of the week: The Federal Reserve Bank raises rates 25 bp and signals more to come.
![US Treasury Building in Washington DC](https://www.nabl.org/wp-content/uploads/2023/01/US-Treasury-Building-in-Washington-DC-1024x768.jpg)
Extraordinary Measures Start: No SLGS Suspension
Treasury Secretary Yellen announced the U.S. had reached its statutory debt limit and would implement extraordinary measures. Notably absent— any mention of SLGS suspension.