Debt Ceiling Deal Clears Hurdle & CEOs Visit China 5/31/23

The long-awaited debt ceiling deal advances to the House floor, after a narrow vote in the House Rules Committee. President Joe Biden and House Speaker Kevin McCarthy had announced the deal over the weekend, capping federal baseline spending for two years and raising the debt ceiling. Former SEC Chair Jay Clayton, and Gary Cohn, vice chairman at IBM and former National Economic Council director, discuss the latest on the debt ceiling deal and the impact on the economy. Jim McGregor, APCO Worldwide greater China chairman, discusses Tesla CEO Elon Musk’s and JPMorgan CEO Jamie Dimon’s separate visits to China this week. He explains the fine line CEOs must walk when dealing with both Beijing and Washington. Plus, bumpy earnings reports from Advanced Auto Parts and HP. In this episode: James L. McGregor, @jamesLmcgregor Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie