Yellen: Not raising debt ceiling may trigger constitutional crisis - Breaking The News

Yellen: Not raising debt ceiling may trigger constitutional crisis

7 May

1 min read

EPA-EFE/JIM LO SCALZO

United States Treasury Secretary Janet Yellen in an interview with ABC News on Sunday warned of a possible constitutional crisis if Congress fails to address the debt ceiling.

Yellen stressed that negotiations should not be conducted "with a gun to the head of the American people" and could have serious consequences for the financial markets and interest rates. Yellen emphasized that the US government could only pay its bills through early June and urged Congress to raise the debt ceiling before the June 1 deadline.

President Joe Biden is set to meet with Republican and Democratic leaders this week to discuss the financial challenges and debt ceiling negotiations.

yellen congress debt ceiling

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