Watch live: Biden delivers remarks on debt ceiling from New York

President Biden on Wednesday will deliver remarks about the debt ceiling and why Congress must avoid a default from New York.

Wednesday’s speech follows a Tuesday meeting at the White House with the top four congressional leaders, including Speaker Kevin McCarthy (R-Calif.), who came away from the meeting with no path forward to avoid the nation defaulting on its debts.

Biden’s meeting with McCarthy, House Minority Leader Hakeem Jeffries (D-N.Y.), Senate Majority Leader Chuck Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.) came just over a week after Treasury Department Secretary Janet Yellen told lawmakers the U.S. could default by June 1.

The leaders spoke for roughly an hour, and while McCarthy came out after and said there was no movement made on the issue in the Oval Office, the president struck a more optimistic tone.

The event is scheduled to begin at 1:30 p.m. ET.

Watch the video above.