Yellen Reiterates That the U.S. Could Run Out of Cash by June 1

Alan Rappeport | NY Times | May 15th, 2023
Category: Financial News

The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.

Treasury Secretary Janet L. Yellen reiterated on Monday that the United States could run out of money to pay its bills by June 1 if Congress does not raise or suspend the debt limit, adding to the pressure on President Biden and congressional leaders as they race to reach an agreement to avert a default.

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