Treasury Secretary Janet Yellen on Friday said Congress must raise or suspend the U.S. debt ceiling by June 5 or risk a default. Yellen had previously said June 1 for a default.
“We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5,” she wrote in a letter to lawmakers. Debt-ceiling talks are continuing between the Biden White House and congressional Republicans.
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