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Yellen: Urgent action needed on debt limit, rejects $1T coin

Summary by Ground News
Janet Yellen says Oct. 18 remains the date she is likely to run out of resources. She rejected the idea of minting a $1 trillion coin to avoid a default. She said it would be "catastrophic" if the government did not have the resources to pay its bills.
1 year ago·Washington, United States

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"It would be catastrophic": Yellen warns debt ceiling breach could trigger recession

Treasury Secretary Janet Yellen told CNBC on Tuesday that the U.S. could face a recession if Congress fails to raise the debt ceiling by Oct. 18.Driving the news: President Biden on Monday urged Republicans to "get out of the way" and let "Democrats vote to raise the debt ceiling this week."Get market news worthy of your time with Axios Markets. Subscribe for free.Republicans, led by Senate Minority Leader Mitch McConnell, have said they will no…

1 year ago·Los Angeles, United States
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Yellen says debt ceiling hike 'utterly essential', opposes platinum coin 'gimmick'

U.S. Treasury Secretary Janet Yellen on Tuesday said it was "utterly essential" for Congress to lift the federal debt limit ahead of an Oct. 18 deadline to avoid U.S. default, but added that she opposes using a loophole in U.S. currency law to resolve the crisis.

1 year ago·United Kingdom
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Yellen: Urgent action needed on debt limit, rejects $1T coin

U.S. Treasury Secretary Janet Yellen said Oct. 18 remains the date she is likely to run out of resources to stave off an unprecedented default on the nation’s debt without congressional action to raise the debt limit

1 year ago·London, United Kingdom
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Yellen: Urgent action needed on debt limit, rejects $1T coin

WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen said Tuesday that Oct. 18 remains the date she is likely to run out of resources to stave off an unprecedented default on the nation's debt without congressional action to raise the…

1 year ago·United States
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US treasury secy Yellen says US debt default could trigger recession: Report

Janet Yellen has warned previously that after October 18, the United States will not have the funds to meet its obligations to creditors if Congress does not relax the legal debt ceiling.

1 year ago·New Delhi, India
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Yellen Warns US Faces 'Catastrophic' Risks, Recession If Unable To Raise Debt Limit By Oct 18

U.S. Treasury Secretary Janet Yellen issued a dire warning on Tuesday, saying that that the nation would face “catastrophic” risks if the debt ceiling is not raised by Oct. 18.

1 year ago·United States
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55% of the sources are Center
The Independent
Associated Press News
Hindustan Times
Business Insider
Reuters
IBTimes
CNBC
The Hill
UPI
Click on Detroit
+7
Al Arabiya
Firstpost News
WCIV
Pittsburgh Tribune-Review
OAN
The Daily Caller
L 18%
C 55%
R 27%
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