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Yellen Warns ‘Time Is Running Out’ Ahead of Biden-McCarthy Meet

  • GOP, Democrats show few signs of agreement on US debt limit
  • Secretary offers reassuring words after several bank failures
Bloomberg business news
Yellen Says Congress Raising Debt Ceiling Is Only Good Outcome
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Treasury Secretary Janet Yellen warned that “time is running out” to avert an economic catastrophe from failing to raise the debt ceiling, speaking before Tuesday’s meeting between President Joe Biden and congressional leaders on the standoff.

On Tuesday morning, Speaker Kevin McCarthy said there had been “no progress” in talks overnight ahead of the 3 p.m. gathering. On Monday he warned, “We only have so many days left to deal with this.”