U.S. Treasury Secretary Janet Yellen addressed the debt ceiling and the collapse of Silicon Valley Bank while testifying before the House on Friday. See potential bias and similarities in coverage from Reuters, CBSNews, and FoxBusiness:
. Yellen previously indicated the treasury can enact “extraordinary measures” to pay the government’s bill until the summer, at which point the government faces a potential debt default. Speaking on the U.S. reaching the debt ceiling, Yellen said, “in my assessment - and that of economists across the board - a default on our debt would trigger an economic and financial catastrophe.
” Addressing a Republican proposal to prioritize certain payments, Yellen said, “prioritization is simply not paying all of the government's bills when they come due,” adding that “we're kidding ourselves because not paying the government's bills will produce economic and financial collapse.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silicon Valley Bank closure: Yellen says banking system 'resilient' as she meets with regulatorsSilicon Valley Bank was closed by the California Department of Financial Protection and Innovation after its parent SVB Financial lost a record 60% of its value. The bank’s failure is the second biggest in U.S. history.
Read more »
Yellen delivers in-person warning to US House members on debt ceilingU.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause an 'economic and financial catastrophe.'
Read more »
Yellen warns U.S. House members of 'economic collapse' from defaultU.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause 'economic and financial collapse.'
Read more »
Yellen defends Biden budget in first hearing with GOP-controlled HouseTreasury Secretary Janet Yellen defended President Joe Biden’s budget on Friday in her first appearance before the House for the first time since Republicans took control.
Read more »
Loop bank robbery: Suspect reportedly fires shots at Fifth Third Bank in ChicagoBREAKING: A bank in downtown Chicago was robbed Thursday afternoon, and the offender reportedly fired shots during the incident.
Read more »