US Treasury: The world is waiting for a possible “economic disaster” within the next two weeks

WORLD, May 13 (YPA) – Treasury Secretary Janet Yellen will update Congress on how close the US is to defaulting on its financial obligations within the next two weeks and defended the steep rise of debt issuance under the Biden administration.

“I don’t want to be specific about when we do updates — when we think we have more information, but certainly within the next couple of weeks,” Yellen said Saturday in an interview with Bloomberg News.

She last wrote to lawmakers on May 1, telling them her department could run out of cash as soon as June 1.

E.M