Key takeaways: Treasury Secretary Janet Yellen announced that the U.S. is projected to reach its borrowing limit of $31.4 trillion on January 19th. The Treasury…
Posts tagged as “the Treasury Department’”
The U.S. Treasury Department is expected to hit the debt ceiling next Thursday, prompting Secretary Janet Yellen to warn of "certain extraordinary measures" to avoid a catastrophic default. In response, House Speaker Kevin McCarthy said Republicans will protect Medicare and Social Security, while looking to balance the federal budget. Congress must now find a solution to the issue, as the Treasury Department's measures can only buy a limited amount of time.