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Yellen warns of ‘constitutional crisis’ risk of debt ceiling stand-off

Washington | US Treasury Secretary Janet Yellen has issued a stark warning that a failure by Congress to act on the debt ceiling could trigger a “constitutional crisis” that also would call into question the federal government’s credit worthiness.

Ms Yellen sounded the alarm over possible financial market consequences if the debt ceiling was not raised by early June, when the federal government could run short of cash to pay its bills.

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Reuters

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    Original URL: https://www.afr.com/world/north-america/yellen-warns-of-constitutional-crisis-risk-of-debt-ceiling-standoff-20230508-p5d6s0