Warner: Market ‘Still Pretty Good,’ But We Have At Least One ‘Crisis’

On Tuesday’s broadcast of Bloomberg’s “Balance of Power,” Sen. Mark Warner (D-VA) stated that “based upon the underlying economic news,” the market “is actually still pretty good,” but has at least one issue that rises to a “crisis” level, argued that in the discussion on raising the debt limit, “We shouldn’t keep piling up one crisis after another” and stated that there are “disruptions in the banking sector, particularly around some of the regional banks.”

Warner said that the reaction of the markets to the lack of progress on an agreement to raise the debt ceiling in Tuesday’s meeting between President Joe Biden, Senate Majority Leader Sen. Chuck Schumer (D-NY), Senate Minority Leader Sen. Mitch McConnell (R-KY), House Speaker Rep. Kevin McCarthy (R-CA), and House Minority Leader Rep. Hakeem Jeffries (D-NY) “could be pretty ugly.”

He added, “And this is coming from somebody that, last week, was enormously focused and still focused on the disruptions in the banking sector, particularly around some of the regional banks. We shouldn’t keep piling up one crisis after another on a market that, based upon the underlying economic news, is actually still pretty good, but these self-inflicted problems, that’s not really the right approach.”

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