-6.7 C
New York
Sunday, January 16, 2022

Failure to deal with debt limit would ‘eviscerate’ U.S. economic recovery – Yellen

Failure to deal with debt limit would 'eviscerate' U.S. economic recovery - Yellen
© Reuters. U.S. Treasury Secretary Janet Yellen speaks during a news conference with Irish Finance Minister Paschal Donohoe at Government buildings in Dublin, Ireland, November 1, 2021. REUTERS/Clodagh Kilcoyne/Files

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen urged Congress to raise the U.S. debt limit or risk undermining what she described as the U.S. economy’s “quite remarkable” recovery from the COVID-19 pandemic.

Yellen, in remarks prepared for a Senate Banking Committee hearing on Tuesday, said she was confident “at this point” that U.S. economic growth remained strong, but said failure to deal with the debt limit would “eviscerate” the recovery.

She also called on Congress to pass President Joe Biden’s $1.75 trillion social and climate spending bill, saying it would end the “childcare crisis” and let parents return to work.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,067FansLike
12,893FollowersFollow
754FollowersFollow
- Advertisement -

Latest Articles

Popular Articles