After a brief pause, talks to increase the US debt ceiling and avert a default that could have devastating effects on the global economy resumed on Friday.
The Treasury chief issued a fresh letter to congressional leaders Monday restating that the Treasury risks running out of sufficient cash for all federal obligations as soon as June 1.
Treasury Secretary Janet Yellen warned that “time is running out” to avert an economic catastrophe from failing to raise the debt ceiling, speaking before Tuesday’s meeting between President Joe Biden