Commerce Street Holdings President and CEO Dory Wiley joined ‘Varney & Co.’ to discuss the debt ceiling plan and its anticipated impact on the stock market.
Treasury Secretary Janet Yellen on Wednesday reiterated the U.S. government could run out of cash to pay its bills by early June, putting the country on a collision course for a potentially catastrophic default on its financial obligation. "It’s highly likely that we would run out of resources to meet all the government’s obligations in early June and possibly as early as June 1," Yellen said during a conference sponsored by the Wall Street Journal. "We no longer see very much likelihood that our resources will enable us to get to the middle or end of June."
Yellen's warning comes amid a prolonged standoff over the debt limit. Republicans, who control the House, have promised to raise the borrowing limit only in
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.
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 »
Yellen confirms early June deadline to McCarthy as leaders enter debt talksTreasury Secretary Janet Yellen has confirmed to congressional leaders that the deadline to pass a debt ceiling increase and avoid the United States defaulting on its obligations is early June.
Source: dcexaminer - 🏆 6. / 94 Read more »
Yellen: 'Highly likely' debt brink is early JuneThe secretary's latest warning comes as President Joe Biden and Speaker Kevin McCarthy meet again amid stalled negotiations.
Source: politico - 🏆 381. / 59 Read more »
In new letter, Janet Yellen warns Speaker McCarthy US will breach debt limit June 1In a new letter to House Speaker Kevin McCarthy, Treasury Secretary Janet Yellen said the U.S. government will break the debit limit by June 1, and warns of waiting it out.
Source: FoxBusiness - 🏆 458. / 53 Read more »