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Yellen Renews Debt-Limit Plea With August Default Possible

  • Says breach of limit could come while Congress out in August
  • Failure to act would be ‘catastrophic’ for economy, she says
Janet Yellen

Janet Yellen

Photographer: Andrew Harrer/Bloomberg
Updated on

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Treasury Secretary Janet Yellen said her department may exhaust emergency measures to avoid breaching the U.S. debt limit as soon as August unless Congress acts to avert a potential default that would be “catastrophic.”