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.
“With an additional week of information now available, I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government’s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1,” she wrote. This story is breaking and will be updated.
Source: Loan Digest (loandigest.net)
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:
United States Latest News, United States 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 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 »
Impasse continues in negotiations over debt ceiling crisisThere appeared to be no significant progress Saturday in debt ceiling talks as the impasse between the White House and Republican congressional leaders continued.
Source: CBSNews - 🏆 87. / 68 Read more »
Janet Yellen says 'hard deadline' for US to breach debt ceiling hasn't changedTreasury Secretary Janet Yellen indicated her 'hard' June 1 deadline for the United States to potentially breach the debt limit hasn't changed.
Source: dcexaminer - 🏆 6. / 94 Read more »