Business & Economy

US Treasury warns

U.S. Treasury Secretary Janet Yellen, today Wednesday, urged Congress to move quickly to lift or suspend the debt ceiling, warning that the money will be exhausted by October.
In a letter to congressional leaders, Yellen wrote that based on management information, “extraordinary funds and procedures will be exhausted by October,” and said that “delays calling into question the federal government’s ability to meet all its obligations are likely to cause irreparable damage to the American economy and global financial markets.”
She added: “At a time when American families, communities and companies continue to suffer the effects of the ongoing Corona epidemic, it will be irresponsible to jeopardize full trust and American credit.”

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