The unprecedented step of President Biden invoking the 14th Amendment to avoid a national default would likely lead to legal uncertainty hanging over the already-fragile financial system. Markets are concerned about a default, which could come as soon as June 1 if Biden and lawmakers can’t come to an agreement. But if Biden chose to act unilaterally instead, the financial system could take a hit with the risk of a default being tied up in the courts. What to know: How the 14th Amendment could solve the debt crisis The president on Tuesday said there have been discussions about whether or not the 14th Amendment can be invoked to avert a default, adding, “I don’t think that solves
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