Janet Yellen Senegal Janet Yellen Senegal

Janet Yellen Says Treasury Can’t Prevent Default if U.S. Breaches Debt Limit

Reading now: 657

DAKAR, Senegal—Treasury Secretary Janet Yellen said Friday that the U.S. wouldn’t be able to prevent a default if the federal government breached its debt ceiling and cautioned that Treasury’s systems weren’t designed to give priority to payments to bondholders after the borrowing limit is exceeded.

Ms. Yellen, speaking at the Senegalese presidential palace, where she was meeting with Senegalese President Macky Sall during a three-country tour through Africa, said that missing a payment on any of the federal government’s obligations would constitute a default. 

Read more on wsj.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.