Treasury Secretary Janet Yellen said there was still uncertainty about exactly when Treasury would run out of cash to pay the U.S. government's debts, but she would keep Congress apprised of any change in the date, which could come as early as June 1.
Yellen told Bloomberg TV that she would meet with senior Wall Street bankers on the federal debt ceiling next week, and she viewed it as appropriate for them to speak out about how the debate over the debt limit was affecting the U.S. economy.
The U.S. president this week said he might have to skip travelling to Hiroshima to meet with G7 leaders next week, depending on developments in the debt ceiling stand-off. Biden had planned to meet with top Democratic and Republican congressional leaders again on Friday after an initial session on Tuesday, but has postponed that meeting until next week.Unlike most developed countries, the U.S. sets a ceiling on how much it can borrow.
Yellen said Treasury might be able to provide more refined guidance on exactly when it would run out of cash to pay the government's bills as the date neared.
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