Janet L. Yellen: “The failure to raise the debt ceiling would cause an economic and financial catastrophe.”

The guidelines that we have put in effect for all Treasury employees... conform with OMB and Administration guidance.

I am heartened that Congress passed crucial support for Ukraine and for other allies.

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

This has never been tried. It has been rejected by all past Treasury secretaries.