A hard-line Republican revolt could not prevent legislation to raise the US debt ceiling from clearing its first procedural hurdle in the House of Representatives on Tuesday evening. Here's how the drama is playing out on Capitol Hill and a guide to what comes next.
The two parties finally reached a deal after a showdown lasting months, then weeks of painstaking negotiations.
Now the two leaders - Democratic President Joe Biden and Republican Speaker of the House Kevin McCarthy - must sell their weekend agreement to their members of Congress. They believe that even with some defections on the left and right, they have the votes to pass a bill before the deadline.
The Treasury has moved the day the US would hit its borrowing limit to Monday 5 June.
For the moment financial markets appear to have calmed as the prospect recedes of the global economic chaos that would result from the world's biggest economy defaulting on its $31.4 trillion (£25tn) debt.
That could quickly change, however, if the multi-step process for approving the debt-limit agreement is derailed or otherwise blocked in the days ahead.
The deal introduces new federal spending limits and restrictions on low-income aid programmes in exchange for a debt-limit increase.
It became clear on Tuesday that this is not a deal that satisfies conservative hard-liners in the House. The question is whether there are enough of them in the right spots to have their way. The answer, for the moment, looks like they do not.
At a press conference held on the steps of the US Capitol earlier on Tuesday, 11 members of the ultra-conservative House Freedom Caucus railed against what they viewed as insufficient spending cuts and budget limitations in the compromise legislation.
"This deal fails completely," said congressman Scott Perry, the leader of the group. He said those who stood with him "will be absolutely opposed to the deal and will do everything in our power to stop it".
South Korea's military said the rocket might have broken up in mid-air or crashed after it vanished from radar early. It released pictures of wreckage found in the sea.
Japanese Prime Minister Fumio Kishida said North Korea appeared to have fired a ballistic missile and that the government was analysing the details.
He added that there were currently no reports of damage following the launch. Japan said previously it was ready to shoot down anything that threatened its territory.
On Tuesday, Ri Pyong Chol, vice-chairman of North Korea's ruling party's central military commission, announced the launch plan, saying it was in response to "reckless military acts" by the US and South Korea.
He accused the countries of "openly revealing their reckless ambition for aggression".
The United States joined South Korea and Japan in condemning the launch, calling it a "brazen violation" of multiple UN Security Council resolutions.
"The door has not closed on diplomacy but Pyongyang must immediately cease its provocative actions and instead choose engagement," said Adam Hodge, National Security spokesman.
He added that the US will take "all necessary measures" to protect itself and its allies.
UN secretary general Antonio Guterres also condemned the move, saying any launch by Pyongyang using ballistic missile technology was "contrary" to the relevant security council resolutions.
North Korean leader Kim Jong-un has identified the development of military satellites as a key component of his country's defence.
Leif-Eric Easley, a professor at Ewha University in Seoul, said the North Korean government "likely sees itself in a space race", and that whether or not its current satellite mission is a success it "can be expected to issue political propaganda about its space capabilities".