Yellen warns of economic catastrophe if US defaults on debt.
TL;DR
US Treasury Secretary Janet Yellen warned of severe economic consequences if the House does not address and raise the debt ceiling. Republicans are demanding dramatic cuts to future spending in exchange for increasing the debt ceiling. The uncertainty of a government default has been highly supportive of gold futures pricing which remains above $2000.
Topics:businesseconomy#debt-ceiling#economy#gold-futures#government-default#janet-yellen#us-treasury
- Warning of Severe Economic Consequences by U.S. Treasury Secretary Yellen Kitco NEWS
- US default on debt would trigger an 'economic catastrophe' - Yellen Yahoo Canada Finance
- Yellen warns debt default would disrupt Social Security payments, raise borrowing costs 'into perpetuity' MarketWatch
- Yellen Says US Default Would Cause an 'Economic Catastrophe' Bloomberg Television
- US default on debt would trigger an 'economic catastrophe' - Yellen msnNOW
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