'If that sounds catastrophic — that’s because it is,' Treasury Secretary Janet Yellen said.
“If that sounds catastrophic — that’s because it is,” Treasury Secretary Janet Yellen said.
Yellen told a banking conference that a situation where the U.S. runs out of cash to pay its bills and defaults on its debt “would generate an economic and financial catastrophe.” She said millions of Americans who rely on payments from the federal government would likely go unpaid, ranging from 66 million Social Security beneficiaries to millions of veterans and military families.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Treasury Secretary Yellen: Treasury’s borrowing costs had already increased for early JuneUS Treasury Secretary Yellen: Treasury’s borrowing costs had already increased for early June – by anilpanchal7 UnitedStates Politics FiscalPolicy NewsTrading RiskAppetite
Read more »
Treasury Secretary Yellen reaffirms U.S. could run out of money to pay bills by early JuneCiting additional data, Treasury Secretary Janet Yellen reaffirmed to Congress that the U.S. could default on its debt as early as June 1.
Read more »
Treasury Secretary Yellen says the U.S. risks breaching the debt ceiling on June 1Yellen's new letter to Congress comes one day before President Biden and Speaker McCarthy are expected to meet to try and find a way forward.
Read more »
US Treasury Sec. Yellen: US default would result in income shock, could lead to recessionUS Treasury Secretary Janet Yellen warned on Tuesday a United States default would result in an 'unprecedented economic and financial storm' that cou
Read more »
Yellen tells lawmakers debt-limit measures could run out as early as June 1Treasury Secretary Janet Yellen on Monday repeated June 1 as the date when the U.S. may be unable to pay its bills in the absence of a debt-ceiling increase....
Read more »
Yellen's estimate that U.S. could run out of money to pay the bills holds at possible June 1 dateTreasury Secretary Janet Yellen updated her guidance Monday on when the United States could run out of money to pay the bills, warning congressional leaders that the nation could default as soon as June 1.
Read more »