Yellen Warns Congress About Looming Debt Limit Crisis
Treasury Secretary Janet Yellen has issued a warning to Congress regarding the approaching debt ceiling limit, which is expected to be reached as early as January 14. In a series of communications, Yellen stated that extraordinary measures will be necessary to avoid a default, starting mid-January. She emphasized the urgency for Congress to act, indicating that without intervention, the federal government may hit the new debt limit by mid-January. The debt ceiling drama is resurfacing, and lawmakers are urged to prepare for urgent measures to prevent a potential default on the national debt.
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