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US may hit new debt limit as early as Jan 14, Yellen says

U.S. Treasury Secretary Janet Yellen has indicated that the U.S. government might reach its statutory debt limit as early as January 14, 2024, urging Congress to act swiftly to either raise or suspend the debt ceiling to avoid a default. Yellen emphasized the critical need for Congress to address this issue to protect the full faith and credit of the United States. She mentioned that the Treasury would employ "extraordinary measures" to manage the government's finances once the limit is hit, but these measures are only temporary. The urgency of the situation was highlighted by the potential economic repercussions if the debt ceiling isn't addressed, including increased borrowing costs and economic instability.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/us/us-may-hit-new-debt-limit-early-jan-14-yellen-says-2024-12-27/ ]