The directors of large American companies write to Joe Biden and congressional leaderswarning them of the "potentially disastrous consequences" of a default.
In an open letter, reported by CNN, the CEOs say that "not resolving the current impasse could easily result in even more negative consequences. Although the US economy is strong, high inflation has created stress on the financial system. A default would weaken our position in the world's financial system."
The letter was also signed by the CEOs of Goldman Sachs, Morgan Stanley, Nasdaq and JetBlue.