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Good morning to everyone except the fast-approaching debt ceiling. Phil Rosen here.
Good morning, friends. Phil Rosen here. Today we're talking housing — but before we get to that, the big thing to watch today is President Joe Biden's meeting with congressional leaders.
The cadre will look to resolve the hotly-contested debt ceiling stalemate.
Experts have cautioned that the so-called "x date" — when the country tips into a catastrophic default — could loom mere weeks away.
All eyes are on the Fed today as officials ready their decision on what could be the final rate hike of the cycle.
As of last night, traders assigned a 82% probability to a 25 basis-point increase, while they see an 18% chance of no change at all.
We'll hear from central bank chief Jerome Powell today at 2 p.m. ET, shortly after the policy announcement.
Below, we're covering everything to know for the big day.
Good morning, team. I'm Phil Rosen. If you missed it Monday, regulators seized First Republic Bank and JPMorgan took over the majority of its assets.