US Treasury Secretary Janet Yellen has warned Congress that the country could hit its debt ceiling as early as mid-January, urging lawmakers to act to avoid a potential default. Yellen expects the new limit will be reached between January 14 and January 23, at which point the Treasury will need to begin taking extraordinary measures to continue financing government activities.
US Treasury Secretary Janet Yellen expects to reach the new limit between January 14 and January 23, 2025. —- Reuters picas a first-time user . Exclusively for Malay Mail readers: Use codeWASHINGTON, Dec 28 — The United States could come up against its debt ceiling as soon as in mid-January, Treasury Secretary Janet Yellen said Friday, urging Congress to “act to protect the full faith and credit” of the country.
But the path forward could prove to be contentious if the United States hits this new limit, given that the lifting of the ceiling has been a thorny partisan issue in recent years. The United States is not set to hit the debt limit once the suspension is over, as the country’s outstanding debt is projected to decrease by around US$54 billion on January 2, Yellen noted.
Debt Ceiling Janet Yellen US Treasury Congress Default
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