Treasury Secretary Janet Yellen warned that the department will probably exhaust its ability to avoid breaching the federal debt limit sometime in October, sending a message to congressional leaders as she prepares to step up talks with lawmakers on boosting or suspending the ceiling.
"Based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October," Yellen said in a letter to Congress Wednesday. "We will continue to update Congress as more information becomes available."
Senate Majority Leader Charles Schumer and House Speaker Nancy Pelosi said separately Wednesday that there were multiple options to resolve the debt-limit question, without specifying them.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
