Published on 26 May 2023 on Zacks via Yahoo Finance

3 Utility Mutual Funds to Buy Amid Debt-Ceiling Impasse

The ongoing debt ceiling crisis in the United States may push the economy to a recession and unleash volatile conditions in the market. The U.S. government's ability to borrow money to meet its financial obligations is legally constrained by the debt ceiling set by Congress.

When the government reaches this limit, it must resort to extraordinary measures to continue funding its operations. Failure to raise the limit may lead to calamitous consequences. This crisis has the potential to trigger an economic recession, creating a downturn in the economy.

In such times of uncertainty, utility mutual funds present themselves as a safe haven. These funds invest in companies that provide electricity, gas and water. And demand for such products remains unaltered in the midst of recession-induced market mayhem.