8/3/2023 0 Comments Up date update date up date![]() ![]() “It’s an internal issue, of course with enormous impacts in the world, but the impression I feel is that we are convinced that the common interests will prevail.” “There is a strong feeling in the room of support for the administration effort, and to Janet specifically,” European Commissioner and former Italian Prime Minister Paolo Gentiloni said Friday in a separate interview with Bloomberg TV. Other G-7 attendees offered optimism that the issue would be resolved before it disrupted global financial markets. “That’s something America hasn’t done since 1789. “We have to default on some obligation, whether it’s Treasuries or payments to Social Security recipients,” she said in the Friday interview. That’s down from around $110 billion a week earlier and means just over a quarter of the $333 billion of authorized measures are still available to keep the country from running out of borrowing room under the statutory debt limit. The US Treasury Department said Friday it had just $88 billion of extraordinary measures to help keep the government’s bills paid as of May 10. She acknowledged the level of debt could present problems, especially if interest rates stay elevated in the long run.īudget talks between White House staff and aides to Congressional leaders continued over the weekend after a planned Friday meeting with President Joe Biden and House Speaker Kevin McCarthy was delayed until next week in what each side said was a sign of progress. “We proposed $3 trillion of deficit reduction over 10 years, and I would say the fiscal path involved in our budget is reasonable,” Yellen said. She last wrote to lawmakers on May 1, telling them her department could run out of cash as soon as June 1.Ī day after the Congressional Budget Office’s updated projections showed it expects the US debt to hit 119% of gross domestic product by 2033, the highest in US history, the Treasury chief responded to concerns over the level of federal borrowing. “I don’t want to be specific about when we do updates - when we think we have more information, but certainly within the next couple of weeks,” Yellen said Saturday in an interview with Bloomberg News in Niigata, Japan. Jeffrey Epstein Keeps Haunting Wall Street Long After His Death Trump Changed GOP Rules to Make Winning the Nomination Even Easier - for Trump Remote Work Comes With Daytime Drug and Drinking Habits Turkey Latest: Erdogan Says Unclear If Vote Will Go to Runoff ![]() (Bloomberg) - Treasury Secretary Janet Yellen will update Congress on how close the US is to defaulting on its financial obligations within the next two weeks and defended the steep rise of debt issuance under the Biden administration. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |