Yellen: The US could default on June 1st – Il Sole 24 ORE
US Treasury Secretary warns: “Waiting until the last minute to take action could impact business and consumer confidence.”
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The US could default on June 1st if the debt ceiling is not raised. This was stated by Treasury Secretary Janet Yellen, stressing that waiting until the last minute to act could have serious consequences for business and consumer confidence. “We still believe that unless Congress takes action to raise or suspend the debt limit by early June, and possibly as early as June 1, the Treasury Department will likely be unable to meet all government obligations,” Yellen writes following the statement letter sent to Congress on May 1st.
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