US Treasury Sec. Yellen: Urging Congress to act as soon as possible on debt limit

In a statement published on Friday, US Treasury Secretary Janet Yellen urged Congress to act as soon as possible on debt limit, as reported by Reuters.

Additional takeaways

“US will meet statutory limit on debt on August 1.”

“Treasury will suspend the sale of state and local government securities at noon on July 30.”

“Treasury will need to start taking certain additional extraordinary measures to prevent a US default if Congress does not act by August 2.”

Market reaction

These comments don’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.7% on the day at 4,398.

FX

Articles You May Like

Dollar Struggles Continue Despite Strong ADP, Caution Prevails
Gold Technical Analysis – Focus on the US NFP report
Oil ticks higher as investors weigh new US tariffs
EU is ready to push the trigger in response to Trump, says French foreign minister
Gold Price Today: Yellow metal scales fresh all-time high, prices surpass Rs 84,200/10 grams

Leave a Reply

Your email address will not be published. Required fields are marked *