Treasury Secretary Janet Yellen reinforces her warning to Congress that it has only a little time left to address the debt ceiling
It is “highly likely” that the agency will not be able to pay all of its bills in full and on time as soon as June 1, Yellen wrote in a letter to House Speaker Kevin McCarthy on Monday.
Meanwhile, Goldman Sachs on Friday said the agency faces “clear risk of missing payments” on June 8 or June 9. Wells Fargo analysts said they are a bit more optimistic than Yellen that Treasury could get to June 15. The secretary has said that the odds are “quite low.” But they added that their confidence has been shaken by earlier forecast misses that underestimated the need for financing and the size of budget deficits.
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