Yellen warns of US debt limit breach by June 1 in letter to Speaker McCarthy. Negotiations between Biden and McCarthy ongoing, with an impasse on debt limit increase. House passed increase with spending cuts, rejected by Biden and Democratic leaders. Senate yet to pass companion bill. Time running out as negotiations continue at White House. McCarthy threatens to cancel House recess without a deal.
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Summary
Article Name
Janet Yellen's Warning: US Debt Limit Breach Imminent on June 1
Description
Yellen warns of US debt limit breach by June 1 in letter to Speaker McCarthy.
Author
Susan Jane
Publisher Name
Fox Business
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