https://en.sputniknews.africa/20230508/us-treasury-says-unsure-about-risk-of-default-on-june-1-1059110378.html
US Treasury Says Unsure About Risk of Default on June 1
US Treasury Says Unsure About Risk of Default on June 1
Sputnik Africa
The US Treasury remains unsure about a possible date of default in the country, including previously announced June 1, US Treasury Secretary Janet Yellen said on Sunday.
2023-05-08T08:29+0200
2023-05-08T08:29+0200
2023-08-03T10:48+0200
united states (us)
us dollar
us banking crisis
us congress
debt
finance
janet yellen
us treasury
international
https://cdn1.img.sputniknews.africa/img/07e7/05/08/1059109953_0:0:3072:1728_1920x0_80_0_0_c38b55eacc57cb7357bcd4e7c732cf7b.jpg
"Early June is when we project that we will run out of cash, and there is a chance it could be as early as June 1. Of course, there is a lot of uncertainty," Yellen stated. The US Treasury will keep the Congress updated on new developments, she added.Earlier in May, the US Department of the Treasury said the US government will likely begin defaulting on its debt by June 1 if the congressional limit on the country's debt servicing is not raised by then.In late April, House Republicans passed legislation to raise the debt ceiling in exchange for cuts in federal spending and other measures to reduce the deficit. However, Senate Democrats and US President Joe Biden rejected the proposal, saying it had no chance of becoming law. Inversely, House Speaker Kevin McCarthy said that a "no-strings-attached" debt limit increase would not pass the lower chamber.Biden is scheduled to meet with McCarthy and other congressional leaders next week to negotiate the raising of the US debt limit.
https://en.sputniknews.africa/20230507/what-happens-if-us-fails-to-raise-its-debt-ceiling-1059097938.html
united states (us)
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2023
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
usa, us treasury secretary janet yellen, washington
usa, us treasury secretary janet yellen, washington
US Treasury Says Unsure About Risk of Default on June 1
08:29 08.05.2023 (Updated: 10:48 03.08.2023) MOSCOW (Sputnik) - The US Treasury remains unsure about a possible date of default in the country, including previously announced June 1, US Treasury Secretary Janet Yellen said on Sunday.
"Early June is when we project that we will run out of cash, and there is a chance it could be as early as June 1. Of course, there is a lot of uncertainty," Yellen stated.
The US Treasury will keep the Congress updated on new developments, she added.
Earlier in May, the US Department of the Treasury said the US government will likely
begin defaulting on its debt by June 1 if the congressional limit on the country's debt servicing is not raised by then.
In late April, House Republicans passed legislation to raise the debt ceiling in exchange for cuts in federal spending and other measures to
reduce the deficit. However, Senate Democrats and US President Joe Biden rejected the proposal, saying it had no chance of becoming law. Inversely, House Speaker Kevin McCarthy said that a "no-strings-attached" debt limit increase would not pass the lower chamber.
Biden is scheduled to meet with McCarthy and other congressional leaders next week to negotiate the raising of the US debt limit.
