Government

Yellen outlines to Congress emergency measures on debt limit

1 month ago   |   By Stl Today

WASHINGTON - Treasury Secretary Janet Yellen told Congress on Friday that she will start taking emergency measures next week to keep the government from an unprecedented default on the national debt, warning that a default would cause “irreparable harm...
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Janet Yellen says Treasury is prepared to pay the US's bills to prevent 'irreparable harm' to the economy as GOP balks at raising debt ceiling

Janet Yellen says Treasury is prepared to pay the US's bills to prevent 'irreparable harm' to the economy as GOP balks at raising debt ceiling

1 month ago   |   By Business Insider

Senate Minority Leader Mitch McConnell and Treasury Secretary Janet Yellen.
Alex Wong/Getty Images; Greg Nash/Getty Images
Yellen said Treasury is prepared to pay off the country's bills starting August 2.
It comes as McConnell opposes raising the debt ceiling without political concessions.
Yellen said even the threat of a default risks major damage to the US economy.
See more stories on Insider's business page .
Treasury Secretary Janet Yellen sent a letter to Congress urging lawmakers to renew the federal government's ability to pay off its debt ahead of a major deadline, warning that...
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Yellen outlines to Congress emergency measures on debt limit

1 month ago   |   By Chron

WASHINGTON - Treasury Secretary Janet Yellen told Congress on Friday that she will start taking emergency measures next week to keep the government from an unprecedented default on the national debt.
In a letter to House and Senate leaders, Yellen said that her actions would buy time until Congress can pass legislation to either raise the debt limit or suspend the limit again for a period of time.
The debt limit has been suspended for the past two years but will go back into effect on July 31.
Yellen said her first move on July 30 will be to suspend the sale of state and local government...
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