Janet L. Yellen: “We have degraded the Kremlin's ability to replace more than 9,000 pieces of heavy military equipment that it has lost on…”

The failure to raise the debt ceiling would cause an economic and financial catastrophe.

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.

Thank you for the invitation to testify and for your support of the Treasury Department.

Treasury continues to impose sanctions to constrict Russia's ability to wage war.