U.S. Treasury Secretary Janet Yellen said on Thursday she was pleased the Senate was moving toward suspending the debt limit but she added that having a debt ceiling has become increasingly damaging to the United States.
"It's led to a series of politically dangerous conflicts that have caused Americans and global markets to question whether or not America is serious about paying its bills," she told CNN in an interview.Sign up for our newsletter
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow rises nearly 400 points as lawmakers prepare to delay debt-ceiling reckoningU.S. stocks rise on Thursday, pointing to a third day of gains, on signs that the debt ceiling issue in Washington will be resolved for at least two more...
Read more »
Mitch McConnell, Chuck Schumer agree to deal to avert debt crisisThe U.S. Senate appears to have narrowly avoided a federal financial crisis—pushing off the vote on the debt ceiling until December.
Read more »
McConnell offers extension on U.S. debt ceiling into DecemberWASHINGTON (Reuters) -Top U.S. Senate Republican Mitch McConnell on Wednesday said his party would support an extension of the federal debt ceiling into December, a move that would head off a historic default with a heavy economic toll. That could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who were expected to block on Wednesday a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling. 'To protect the American people from a near-term Democrat-created crisis, we will also allow Democrats to use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December,' McConnell said in a statement on Wednesday.
Read more »
Biden says Democrats changing filibuster rules to raise debt ceiling a 'real possibility'President Biden told reporters Tuesday night that it's a 'real possibility' Senate Democrats could change the chamber's filibuster rules to overcome Republican obstruction to raising the debt ceiling, per a pool report.Why it matters: Overhauling the rules could help Democrats 'stave off a potential, calamitous default roughly two weeks before a critical fiscal deadline,' the Washington Post notes.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for fre
Read more »
Majority Leader Steny Hoyer says House will reconvene Tuesday for debt ceiling vote'It is egregious that our nation has been put in this spot, but we must take immediate action to address the debt limit and ensure the full faith and credit of the United States remains intact,' Hoyer said.
Read more »
What's good (and what's not) about Congress' new debt-ceiling dealTo be sure, avoiding the Oct. 18 deadline is good news, but this is obviously a kick-the-can-down-the-road agreement.
Read more »