Treasury Secretary Janet Yellen on Thursday agreed that any default on U.S. debt would cause irreparable harm as well as an ensuing financial crisis and recession. Yellen, asked by a member of the House Financial Services Committee if the damage done by failure to meet the federal government’s debt obligations would be “irreparable,” answered: “Yes.”…
US Default Would Cause ‘Irreparable’ Harm, Yellen Warns Again
October 1, 2021
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