It is “highly likely” that the agency will not be able to pay all of its bills in full and on time as soon as June 1, Yellen wrote in a letter to House Speaker Kevin McCarthy on Monday.
Meanwhile, Goldman Sachs on Friday said the agency faces “clear risk of missing payments” on June 8 or June 9. Wells Fargo analysts said they are a bit more optimistic than Yellen that Treasury could get to June 15. The secretary has said that the odds are “quite low.” But they added that their confidence has been shaken by earlier forecast misses that underestimated the need for financing and the size of budget deficits.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury Secretary Yellen says 14th Amendment wouldn’t be ‘appropriately used’ for debt ceilingTreasury Secretary Janet Yellen said Sunday that President Biden invoking the 14th Amendment to circumvent Congress and lift the debt ceiling to avoid default is not likely legally sound.
Source: WashTimes - 🏆 235. / 63 Read more »
US Treasury Secretary Yellen: June 1 remains a 'hard deadline' for raising the Federal debt limitUS Treasury Secretary Yellen: June 1 remains a “hard deadline” for raising the Federal debt limit – by anilpanchal7 UnitedStates FiscalPolicy Politics RiskAppetite NewsTrading
Source: FXStreetNews - 🏆 14. / 72 Read more »
'Hard choices' will need to be made about which bills go unpaid if the debt ceiling is not raised, Yellen saysTreasury Secretary Janet Yellen warned that the United States could default on its debt in June.
Source: CNBC - 🏆 12. / 72 Read more »
Yellen warns Congress again that default could be just days away | CNN PoliticsTreasury Secretary Janet Yellen reinforced her warning to Congress that it has only a little time left to address the debt ceiling before the nation defaults on its obligations.
Source: CNN - 🏆 4. / 95 Read more »
U.S. still risks breaching debt limit on June 1, Treasury Secretary warns in new letter“We have learned from past debt limit impasses that waiting until the last minute ... can cause serious harm to business and consumer confidence,' Yellen wrote to Congress Monday.
Source: NBCNews - 🏆 10. / 86 Read more »
Yellen says U.S. won’t be able to pay all bills by early June without increase in debt ceilingTreasury Secretary Janet Yellen on Monday said the U.S. won’t be able to pay all its bills by early June, and as soon as June 1, if Congress doesn’t raise...
Source: MarketWatch - 🏆 3. / 97 Read more »