Yellen: Debt-ceiling breach would have ‘adverse impact’ on U.S. dollar’s status


Treasury Secretary Janet Yellen on Monday warned a breach of the U.S. debt ceiling could cause “financial chaos” and downgrade the status of the U.S. dollar as the world’s reserve currency.

Yellen spoke in a CNBC interview a day before President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet at the White House to discuss the debt ceiling. McCarthy, a California Republican, is insisting on spending cuts in exchange for raising the $31.4 trillion borrowing limit. Biden wants the debt ceiling to be raised…

This article was originally published by Read the original article here.

Previous article: Wayfair stock falls after convertible note offering announced
Next articleEarnings Results: PayPal logs earnings beat as CEO says revenue expectations now ‘clearly higher’


Please enter your comment!
Please enter your name here