Yellen warns of potential U.S. debt default by June 1.
TL;DR Summary
US Treasury Secretary Janet Yellen warned that the US may run out of measures to pay its debt obligations by June 1, earlier than expected, if Congress doesn't raise or suspend the debt limit before then. This date is earlier than Wall Street economists were expecting. The Congressional Budget Office also revised its estimate for the so-called x-date on Monday. There are only eight legislative days this month when both the House and Senate will be in session at the same time, which could significantly impact any effort to hammer out a last-minute deal in person on a debt-ceiling hike.
- The U.S. could hit the debt ceiling by June 1, much sooner than expected, Yellen warns CNBC
- U.S. Could Run Out of Cash by June 1, Yellen Warns The New York Times
- U.S. debt ceiling must be raised or suspended by June, Treasury says The Washington Post
- US could default on its debt as soon as June 1 if Congress doesn't act, Yellen says CNN
- U.S. could breach debt limit by June 1, Yellen warns POLITICO
Reading Insights
Total Reads
0
Unique Readers
10
Time Saved
2 min
vs 3 min read
Condensed
81%
526 → 100 words
Want the full story? Read the original article
Read on CNBC