US Treasury Secretary Janet Yellen wants the Democrats to address the country’s debt limit issue if the Republicans do not rally behind them to avert a possible default next month. SPY is down -0.096%, DXY is down -0.09%.
- Yellen says that the Democratic Congressional leaders could use reconciliation to drive the debt ceiling bill. She added that the matter was a bipartisan responsibility.
- Yellen says that the Treasury was ready to collaborate with the House Speaker Nancy Pelosi and the Senate Majority leader Chuck Schumer to see the process through.
- The Treasury head’s comments come as the Republicans maintain a hard stance against Biden’s infrastructure and domestic bills, declining to raise the debt ceiling.
- Congress temporarily raised the federal government debt ceiling to $28.9 trillion last month.