Treasury Secretary Janet Yellen On Friday Notified Congress That The U.S. Will Reach Its Statutory Debt Limit Next Thursday

Janet Yellen, US Treasury secretary, speaks during a Financial Stability Oversight Council (FSOC) meeting at the Treasury Department in Washington, DC, US, on Friday, Dec. 16, 2022. Ting Shen, Bloomberg

CNBC: U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress

* Treasury Secretary Janet Yellen notified Congress that the U.S. will reach its statutory debt limit next Thursday, and asked House Speaker Kevin McCarthy to either suspend or increase the debt limit.

* Yellen wrote that the Treasury Department will begin “taking certain extraordinary measures to prevent the United States from defaulting on its obligations.”:

* She told McCarthy, “It is unlikely that cash and extraordinary measures will be exhausted before early June.”

* “Failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability,” Yellen warned.

Treasury Secretary Janet Yellen on Friday notified Congress that the U.S. will reach its statutory debt limit next Thursday.

After that, the Treasury Department this month will begin “taking certain extraordinary measures to prevent the United States from defaulting on its obligations,” Yellen wrote in a letter to new House Speaker Kevin McCarthy, R-Calif.

The Treasury “is not currently able” to estimate how long those emergency actions will allow the U.S. to pay for government obligations, she wrote. But, “It is unlikely that cash and extraordinary measures will be exhausted before early June,” Yellen added.

Read more ....

WNU Editor: Here is an easy prediction. After a lot of drama and grand-standing, in the end they will approve raising the debt limit.

Treasury Secretary Janet Yellen On Friday Notified Congress That The U.S. Will Reach Its Statutory Debt Limit Next Thursday

Yellen tells Congress US expected to hit debt limit Thursday -- AP

Yellen warns of U.S. default risk by June, urges debt limit hike -- Reuters

Treasury secretary warns US could default on its debt as soon as June -- CNN

Yellen warns of 'irreparable harm' if debt ceiling not raised in letter to Congress -- Yahoo

Biden administration warns House GOP about debt ceiling deadlines -- Axios

from War News Updates https://ift.tt/8c7uoGS
via IFTTT

Comments

US And Russian Chiefs Of Staff Discuss Ukraine In Rare Phone Call

U.S. Chairman of the Joint Chiefs of Staff Gen. Mark Milley (left) and his Russian counterpart Valery Gerasimov (file photo) The Hill: Milley speaks with Russian counterpart for first time since start of war Chairman of the Joint Chiefs of Staff Gen. Mark Milley spoke with his Russian counterpart on Thursday, the first such conversation between the two since the Kremlin’s invasion of Ukraine began in late February, according to the Pentagon. Milley spoke by phone with Valery Gerasimov, chief of the Russian general staff, and they “discussed several security-related issues of concern and agreed to keep the lines of communication open,” Joint Staff spokesperson Col. Dave Butler said in a readout of the conversation. The Pentagon did not provide further information on the conversation. Read more .... WNU Editor: So much for the reports last week that Chief of the General Staff of the Armed Forces of Russia Valery Gerasimov was fired b...

Is Putin's Inner Circle Already In Discussions On Who Is Going To Replace Him?

Russian President Vladimir Putin leads a meeting on economic issues in Moscow on Monday. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) Daily Beast: Putin’s Own Men Are Already Discussing Who Will Replace Him Three months into Vladimir Putin’s bloody “special operation” in Ukraine, his own men in the Kremlin are reportedly discussing who will replace him. That’s according to new reporting by the independent news outlet Meduza, which cited several sources close to the Russian presidential administration who said officials are increasingly fed up with Putin personally. Some of Putin’s own allies within the Kremlin walls have reportedly floated the idea of Moscow Mayor Sergei Sobyanin becoming his successor, or former President Dmitry Medvedev, who is now the deputy chairman of the Security Council. Sergei Kirienko, the first deputy chief of staff of the presidential administration, was also said to have been discussed as a contender. Read mor...

China's shipyard CSSC launches 1st Pakistani Hangor class submarine PNS Hangor

According to information published by the Pakistani MoD on April 26, 2024, the Hangor class submarine PNS Hangor was launched by the Chinese shipyard CSSC. This submarine is a part of the Hangor-class, which itself is based on the Yuan-class Type 039B submarines provided by China. Read full news at this link Hangor class submarine PNS Hangor. (Picture source: Pakistani MoD) Read more from World Defence News https://ift.tt/dgQWhs7 via IFTTT

MTQ News

Search This Blog