US Debt Limit Looms: Yellen Warns of Potential Crisis by Jan 14
2024-12-27
Reuters
The US Treasury Department may need to take extraordinary measures by as early as January 14 to prevent a default, according to Secretary Janet Yellen. With the national debt approaching its limit, the government is facing a potential financial crisis. Yellen's warning comes as the country's debt ceiling debate heats up, sparking concerns about the impact on the economy and financial markets. As the deadline looms, policymakers are under pressure to find a solution to avoid a possible debt default, which could have severe consequences for the US economy and global financial stability, including market volatility and credit rating downgrades.