Janet Yellen

Treasury Secretary Janet Yellen gives a speech on the economy at Ford Rouge Electric Vehicle Center on Sept. 8, 2022, in Dearborn, Michigan. (Sarah Rice/Getty Images)

U.S. could default as early as June 1, Yellen warns Congress

BY: - May 1, 2023

UPDATED 5:50 p.m. Central, 5/1/23 WASHINGTON — U.S. Treasury Secretary Janet Yellen warned Monday that the U.S. could default in as soon as one month if Congress does not act to raise the nation’s borrowing limit — a prediction that prompted President Joe Biden to call a meeting with congressional leaders next week. In a […]

Treasury Secretary Janet Yellen gives a speech on the economy at Ford Rouge Electric Vehicle Center on Sept. 8, 2022, in Dearborn, Michigan. (Sarah Rice/Getty Images)

U.S. to hit debt limit much sooner than expected, thrusting Congress into showdown

BY: - January 13, 2023

WASHINGTON — The U.S. government will hit its borrowing limit next week, forcing the new, divided Congress into negotiations over the debt limit much sooner than expected, though a potential date for the nation to default isn’t expected until this summer. Treasury Secretary Janet Yellen wrote to Congress on Friday afternoon, telling leaders the United […]