news unrolled

Post: Yellen says Treasury’s ability to avoid default is running out


Capitol building in Washington DC, USA. archive photo

Yellen: US Treasury Department’s Extraordinary Measures to Prevent Default Are Ending

WASHINGTON, May 7 – RIA Novosti. US Treasury Secretary Janet Yellen said the US Treasury Department’s mandate to take extraordinary measures to avoid default has expired.

“We have been implementing extraordinary measures for several months. “Our ability to do that is coming to an end,” Yellen told ABC News when asked if the Treasury had more tools to avoid default.

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.

Russian Security Council Secretary Nikolai Patrushev

Patrushev says the US will increasingly default

Source: Ria

Leave a Reply

Your email address will not be published. Required fields are marked *