America would default for the first time in history. The full faith and credit of the United States would be impaired and our country would likely face a financial crisis and economic recession as a result.
Yellen warns of the severe consequences of failing to address the debt ceiling.
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The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'
We certainly have proposed extending the Child Tax Credit, which was immensely helpful, and we are supportive of the legislation that has gone through the House.
We share the objective that you have which is to rid ourselves of dependence on China.
I am optimistic, because I believe that the big inflationary impulse that we saw in 2022 largely was global.
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