Treasury Secretary Janet Yellen said the Biden administration is committed to not having missed payments and to raising the debt ceiling, and that her department is not involved in planning for a default.
(Bloomberg) — Treasury Secretary Janet Yellen said the Biden administration is committed to not having missed payments and to raising the debt ceiling, and that her department is not involved in planning for a default.
“We are committed to not having missed payments and raising the debt ceiling,” Yellen said Wednesday via video conference to an event in London. “We’re not involved in planning for what happens if there’s a default,” she added when asked whether the Treasury was engaged with major financial institutions in game-planning a default scenario.
(Updates with banking context in second paragraph.)
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