Negotiations over the debt ceiling resumed late Friday after talks were put on hold earlier in the day, according to The Wall Street Journal.
A White House official said negotiators were meeting Friday night on Capitol Hill, the Journal reported.
Earlier, Rep. Garret Graves (R., La.) walked out of negotiations with the White House after failing to come to an agreement on raising the debt ceiling.
“We’ve decided to press pause because it’s just not productive,” Graves told reporters.
President Joe Biden said earlier this week he was “confident” that he and congressional leaders would come to an agreement to avoid the first ever U.S. government default.
House Speaker Kevin McCarthy said in an interview Wednesday that negotiators “finally have a process, a structure, that has worked every time in the past, but now we have a short time frame to get the job done.”
The U.S. could default on its debts as early as June 1, according to Treasury Secretary Janet Yellen. A default could have a devastating impact on the global economy.
Biden is expected to provide an update on the debt-ceiling talks Sunday after he arrives back in Washington from the G-7 meeting in Japan.
Write to Angela Palumbo at angela.palumbo@dowjones.com
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