While staffers meet on Capitol Hill, a scheduled Biden/McCarthy meeting is penciled in at 4:30 PM ET. That sounds so predictable, but I would not be surprised if there are some snags as each side gets their last political “I am being tough” posturing in before they come to an agreement.
So do not be surprised by talks breaking down, and delays in meetings, with a deal done late at night one day (maybe not today or even tomorrow). That will be followed by a White House press conference (probably outside – weather is cloudy but no rain this week).
This is still much about politicking and showing strength. The risk of default is too high.
/inflation