Janet Yellen

President Biden proposed a full-blown budget that contains substantial deficit reduction, $3 trillion over 10 years.

The fact that the dollar is used as a reserve currency and plays such a huge role in international transactions does enable our sanctions to be much more effective.

The contrast between Democrats and Republicans is clear.

Republicans, on the other hand, are failing to lead.

I believe it succeeded.

It is important for the dollar to remain the global reserve currency.

There can be no acceptable outcomes if the debt ceiling isn't raised, regardless of what decisions we make.

we're all concerned about deficits and fiscal responsibility, but deficits can be addressed both through changes in spending and also through changes in revenue.

Since 1789, the United States has a history of paying its bills on time.

the odds of reaching June 15th, while being able to pay all of our bills, is quite low.

there will be hard choices to make about what bills go unpaid.

I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June, and possibly as soon as June 1st.

The Trump tax cuts added hugely to the deficit. I wish I recalled, it was something like $2 trillion over 10 years.

The strong actions we have taken ensure that Americans' deposits are safe.

Thank you for inviting me to join you today, and I would also like to thank you for your leadership of this subcommittee and support of the Treasury Department.

It is important to be clear, shareholders and debt holders of the failed banks are not being protected by the government.

The Trump tax cuts added hugely to the deficit. I wish I recalled, it was something like $2 trillion over 10 years.

The Trump tax cuts added hugely to the deficit. I wish I recalled, it was something like $2 trillion over 10 years.

It is a fundamental, basic responsibility of Congress to pay the Government's bills. And I call on Congress to expeditiously raise the debt ceiling.

That those who were responsible for the failure of a bank should not be profiting when stockholders and investors in the bank are taking--forced to take losses.

I share your concerns about endemic corruption in Lebanon, officials' reluctance to implement reforms, and stalled presidential elections.

the Trump tax cuts added hugely to the deficit.

those who were responsible for the failure of a bank should not be profiting when stockholders and investors in the bank are taking--forced to take losses.

not paying any of our bills is default.

I would love to know who is responsible for that.