Power Breakfast: Wall Street Closes Down, Dollar Dips As Debt Ceiling Talks Stall

US markets closed weak on Friday. The Dow dropped 110 points. Last week, the Nasdaq gained 2% and the S&P 500 gained 1.5%. Debt limit talks stalled, Republican offer not accepted by Biden. Today there will be a meeting between President Joe Biden and the House Republican Speaker. Jerome Powell, chairman of the US Federal Reserve, said that rates may not have to rise as much as expected to curb inflation.