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Possible US Default 'Would Spark Global Downturn', Yellen Warns

Earlier this month, the US Treasury Secretary insisted that her country might run out of options to pay its debt obligations already on June 1 if congressional lawmakers fail to act and raise the country’s debt ceiling. ....

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Yellen: US Running Out of Ability to Use Extraordinary Measures to Avoid Default

US Treasury Secretary Janet Yellen said on Sunday that her department was running out of the ability to take extraordinary measures to avoid default, with the United States expected to hit the debt ceiling on June 1. ....

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Inflation beats the Fed: the word "transitory" eliminated from forecasts — MercoPress

Federal Reserve policymakers finally acknowledge the increasing risk of more persistent inflation in months ahead and thus the word transitory has been eliminated from the inflation forecasts. ....

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