2023-05-16 13:59:00
[ワシントン １６日 ロイター] – U.S. Treasury Secretary Yellen said Wednesday that if the federal debt ceiling is not raised and the U.S. defaults, millions of Americans will lose their salaries and jobs and businesses will be hit hard. He warned that it might trigger an economic recession.
Yellen reiterated on Thursday that the government might fail to meet its debt payments by June 1 unless the debt ceiling is raised.
In a speech to the Independent Community Bankers Association of America (ICBA) earlier in the day, he said that if the debt ceiling is not raised, federal operations, including air traffic control, law enforcement, border security, national defense and telecommunications systems, will be disrupted. However, he pointed out that the unprecedented economic and financial crisis might get worse. He warned that “a global panic might well lead to a collapse of many financial markets as margin calls and cash flows worsen.”
He said the dispute over the debt ceiling has raised borrowing costs and increased the government’s debt burden. “Time is running out. The economic costs that might be connected are increasing,” he said, calling on Congress not to implement “brinkmanship policies.”
President Biden and Republican House Speaker McCarthy will meet at 3:00 p.m. ET on Thursday to discuss the debt ceiling.
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