Debt ceiling talks enter make-or-break phase

Ahead of their debt ceiling meeting Monday afternoon, neither President Biden nor House Speaker Kevin McCarthy (R-Calif.) know whether the other side is willing to compromise at the 11th hour.

Why it matters: Treasury Secretary Janet Yellen repeated her warnings Sunday — which she had made in public and in private – that June 1 is a “hard deadline” to raise the debt ceiling.

While Biden is keeping the 14th Amendment as a viable option, he made it clear in Japan that it’s not his preferred course of action, citing the certain legal challenges.

Driving the news: After on-again-off-again...