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Biden signs agreement to raise US debt ceiling

The President of the United States, Joe Biden, has signed the agreement to increase the American country’s debt ceiling. With this move, the agreement has already become official after the House of Representatives approved it during the week.

The White House announced the signing of the agreement through an email notification, the news agency reports PA in the afternoon of this Saturday, June 3rd. The signing was done privately at the North American country’s presidential home, the source adds.

As we reported this Thursday in CriptoNoticias, the House of Representatives approved the agreement on May 31st. It was still awaiting Biden’s signature. On this occasion the legislature approved raising the debt ceiling by a majority of 314 to 117.

Days earlier, an agreement had been announced that would raise the debt ceiling to $31.38 trillion. The move, which allows the country’s debt to increase by January 2025, means the North American country can avoid a default.

The economic situation in the United States has been delicate in recent years. Fear of a possible default, a looming recession according to various analysts, and inflation that has attracted the attention of US institutions were the problems of the economy during the Biden administration.

President Biden himself described approval of this agreement as “fundamental”. He also assured that “the stakes could not have been higher.” […] Nothing could have been more catastrophic [que no alcanzar un acuerdo]”, called.

At the same time, dozens of countries are exploring alternatives to the dollar for international trade. There are already joint initiatives in organizations like the BRICS (Brazil, Russia, India, China and South Africa), while other countries are contemplating their own de-dollarization strategies.

Given the news, the market is calm. Bitcoin (BTC) price remains dormant for now, trading at $27,177.

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