“US Treasury Secretary Janet Yellen Says Potential Default Looms as Debt Ceiling Deadline Approaches”

2023-05-24 14:44:00


Wednesday, May 24, 2023 05:44 PM

US Treasury Secretary Janet Yellen said on Wednesday that the date for the potential US default on its financial obligations, if the debt ceiling is not raised, is still June 1.

She added during an event organized by the Wall Street Journal that she would soon inform Congress of the US administration’s financial situation. And she stressed that President Joe Biden’s commitment to not defaulting on its debt is “important”.

She said she believes an agreement on raising the debt ceiling and avoiding default is “possible,” noting that the Biden administration has offered changes that would reduce the budget deficit by $1 trillion.

And she stressed that the Treasury and Biden “face difficult choices if Congress does not act.”

#Treasury #United #States #default #debt #June

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.