Yellen warns of ‘catastrophe’ if debt limit not raised
‘Household payments on mortgages, auto loans, and credit cards would rise, and American businesses would see credit markets deteriorate,’ she said
Biden, McCarthy meet at White House on debt crisis worries
Biden has resisted direct negotiations over raising the nation’s legal debt ceiling, warning against potentially throwing the economy into chaos
Treasury to increase borrowing amid debt ceiling standoff
The US plans to borrow $932 billion during the January-to-March quarter
US expands sanctions on Russia’s ‘brutal’ Wagner Group
The Treasury and State departments announced the moves in coordinated statements that target dozens of the mercenaries’ affiliates
Yellen says debt standoff risks ‘calamity in the United States and the world economy’
‘It is possible for markets to become quite concerned about whether or not the US will pay its bills,’ the treasury secretary said
Door of No Return: Yellen visits onetime slave-trading post
The economic benefits that major slave-trading nations, including the United States, reaped for hundreds of years on the backs of unpaid labor could amount to tens of trillions of dollars
What happens if the debt limit is hit?
What could be worrisome is not the existence of extraordinary measures, but what happens if they are exhausted this summer without a deal in place
Yellen warns that the United States will hit debt limit next week
The Treasury Department asks Congress to raise it and expect to begin taking extraordinary measures
Federal Reserve expected to raise rates to highest level since 2008
Chairman Jerome Powell could apply a 0.75 percentage point hike in a bid to cool inflation, while some observers say the increase will be as high as one entire point