28 Sep 2021

“It is imperative that Congress address the debt limit. If not, our current estimate is that Treasury will likely exhaust its extraordinary measures by October 18. At that point, we expect Treasury would be left with very limited resources that would be depleted quickly. America would default for the first time in history. The full faith and credit of the United States would be impaired, and our country would likely face a financial crisis and economic recession as a result.”

www.aljazeera.com/economy/2021/9/28/po...
Type of Source: News

Janet Yellen

   Politician

United States Secretary of the Treasury

Contexts (to suggest a new Context click here)

Risks for the US economy if Congress fails to pass a bill to fund the government and raise the country’s debt ceiling

US economy