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Yellen says without debt limit hike, U.S. could face August default risk

24 Tháng Sáu 2021
Yellen says without debt limit hike, U.S. could face August default risk © Reuters. U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing to examine the FY22 budget request for the Treasury Department on Capitol Hill in Washington, DC, U.S., June 23, 2021. Greg Nash/Pool via REUTERS

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday urged Congress to raise or suspend the federal debt limit as soon as possible, warning that if lawmakers fail to act, the United States could face a serious risk of default as soon as August.

"I think defaulting on the national debt should be regarded as unthinkable," Yellen said in testimony to a Senate Appropriations subcommittee. "Failing to increase the debt limit would have absolutely catastrophic economic consequences."Yellen said that to avoid uncertainty for financial markets, Congress should pass new debt limit legislation - allowing the Treasury to continue borrowing - before the latest suspension expires on July 31.

The Treasury in the past has been able to stave off potential default for several months by employing extraordinary measures such as suspending contributions to government employee pension funds, but spending on COVID-19 relief programs has added uncertainty to government cash flows.

These measures could be exhausted in August, when Congress takes its traditional summer recess, she said.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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