Extend-and-Pretend. US tax bill goal date was Memorial Day, now Bessent hopes for July 4

The original US tax bill goal date was Memorial Day. US Treas Sec Bessent now says he hopes for July 4.

Bessent met with ‘Big Six’ GOP leaders, including Speaker Mike Johnson and Senate Majority Leader John Thune, at 4 PM to discuss the party-line megabill and the approaching debt ceiling “X-date.”

As for the X date, Bessent says will get a better idea of it by the end of this or next week. No new date set for now.

Trader are looking to Bessent now for more coherent policy signals.

This article was written by Eamonn Sheridan at www.forexlive.com.