Treasury, Fed Mull Impact of Debt Debate

Treasury Secretary Timothy Geithner and top Federal Reserve officials met Friday to talk about the implications for the U.S. economy if Congress fails to raise the federal debt limit before Aug. 2.

In a joint statement, Treasury, the Federal Reserve Board and the New York Fed said they remain confident that Congress will raise the debt ceiling soon.

(Reporting by Rachelle Younglai; Editing by James Dalgleish)