Yellen: U.S. Treasury remains uncertain over threat of June 1 default

WASHINGTON, May 7 – RIA Novosti. In an interview with the TV channel, US Treasury Secretary Janet Yellen said that the US Treasury Department remains uncertain about the possible default date, including the previously announced June 1 date. ABC News.

When asked about his probable timing in an interview with ABC News, he said, “We estimate we will run out of money in early June. There is a possibility that it will be June 1st. Of course there is significant uncertainty.” default.

Yellen added that she plans to notify the US Congress if the Treasury has news about public debt and defaults.

On Friday, citing sources, CNBC reported that the US administration is considering a short-term increase in the national debt ceiling to avoid default and gain more time to negotiate with the Republican opposition.

The U.S. Treasury has previously warned that it may not be able to meet its obligations fully if Congress does not extend its borrowing limits by June 1.

Republicans who control the lower house of Congress attribute the increase in the ceiling to the adoption of a program of radical budget cuts that the White House cannot accept.

President Joe Biden has repeatedly asked his rivals to extend debt limits without any conditions, and he flatly refuses to negotiate on the issue. He is scheduled to meet with congressional leaders, including Speaker of the House Kevin McCarthy, next week.