Yellen Warns Congress Treasury May Run Out of Cash Past Dec. 15
- Infrastructure bill requires $118 billion transfer by Dec. 15
- Lawmakers still have shown no sign of resolving the issue
Janet Yellen, U.S. Treasury secretary
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
Treasury Secretary Janet Yellen indicated to lawmakers that they risked a U.S. government default if they failed to lift the legal debt ceiling by Dec. 15.
“While I have a high degree of confidence that Treasury will be able to finance the U.S. government through Dec. 15,” Yellen wrote Tuesday in a letter to congressional leaders, “there are scenarios in which Treasury would be left with insufficient remaining resources to continue to finance the operations of the U.S. government beyond this date.”