Yellen Hints at a ‘Few Days’ of Room After Debt-Limit Deadline
- Treasury secretary supports permanent repeal of ceiling
- Comments offer more details beyond letter earlier in week
This article is for subscribers only.
Treasury Secretary Janet Yellen suggested Thursday that the U.S. government may have a few days of cash left after the Oct. 18 date she gave earlier this week before a potential default linked to the debt limit.
“It will be impossible for Treasury on that day, or a few days thereafter” to pay the nation’s bills since cash flow will be “limited” and “will be run down quickly,” she said in response to questions during a hearing before the House Financial Services Committee.