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Debt ceiling deadline is extended to June 5, later than previously estimated, Yellen says

May 26, 2023
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Treasury Secretary Janet Yellen Yellen said in letter to Congress that inaction on raising the U.S. debt limit would “cause severe hardship.”
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When will the U.S. run out of money? It’s tough to say.

May 25, 2023
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Even Treasury Secretary Janet Yellen admitted it’s hard to be exactly sure when a default could happen.
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What happens to benefit checks if there's no deal on the debt ceiling?

May 23, 2023
Supplemental Security Income payments and veterans 'payments could be among the first checks to be delayed.
Speaker of the House Kevin McCarthy is scheduled to meet with President Joe Biden to continue debit limit negotiations. Experts agree that a default would cause a massive pause on regular government payments to individuals in need.
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Is Washington finally getting serious about the debt ceiling?

Every day there's a warning about how catastrophic a default on the national debt would be. What's it going to take to avoid that?
House Speaker Kevin McCarthy
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How would a U.S. debt default play out in Texas?

May 18, 2023
Half a million jobs could be lost in the second-biggest state economy. Pensioners, the food insecure and many others could suffer.
Treasury chief Janet Yellen has warned that the federal government could run out of money by June 1. Moody’s estimates that in a default, the giant Texas economy could lose more than half a million jobs.
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Yellen: U.S. could hit debt limit as soon as June 1

May 1, 2023
The treasury secretary urges Congress to protect nation’s “full faith and credit” by raising the government’s borrowing authority.
In a letter to House and Senate leaders, the treasury secretary urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
Stefani Reynolds/AFP via Getty Images

Bank failures have some small business owners re-thinking their own banking arrangements

Mar 23, 2023
The failures of Silicon Valley Bank and Signature Bank have rattled some small business owners, even though contagion hasn’t spread to smaller banks.
Treasury Secretary Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC.
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Yellen: "Progress on inflation is not going to be a straight line"

The Treasury secretary says "people don't need to lose their jobs" to cool down the labor market.
"There's a great sense of community but an enormous amount of trauma that everyone in Ukraine is experiencing," Treasury Secretary Janet Yellen says. Above, Yellen at a school in Kyiv earlier this week.
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The U.S. hit its debt ceiling. Now it's time for “extraordinary measures.”

Jan 19, 2023
Basically, Treasury will have to move money around so it can keep paying the country’s most important bills. At least for a little while longer.
Treasury Secretary Janet Yellen warned that her department would have to take "extraordinary measures" to keep the U.S. government from defaulting on its debt.
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The U.S. tries to build support for a price cap on Russian oil

Jul 13, 2022
Experts say buy-in from China and India would be key to making the policy work.
The U.S. and its allies hope to create a "buyers cartel" aimed at reducing Russia's oil revenue in response to its attack on Ukraine.
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