United States Treasury Secretary Janet Yellen on Monday emphasized the necessity of avoiding a "economic" and "financial" disaster as the government remains deadlocked over the debt ceiling, pushing Congress to raise the debt limit to pay for previously authorized spending.
In an exclusive interview with CNN, the secretary underlined that it is "inconceivable" for the United States to default on its debt given the supremacy of the American dollar, which serves as a "reserve currency" in the world. Yellen stressed that "extraordinary measures" proposed by the department should help the government pay its bills until at least early June.
Commenting on the United States' economy, Yellen said that the inflation has been gradually coming down in comparison to the year before, expressing confidence that the Federal Reserve's policy will be successful.
