Sunday, May 07, 2023 8:27:26 PM
Treasury Secretary Janet Yellen has said that failing to lift or suspend the debt ceiling would lead to “economic and financial catastrophe,” darkening a U.S. economic outlook already clouded by elevated inflation, high interest rates and unease in the banking industry.
The Congressional Budget Office and the Treasury Department projected May 3 that if the government doesn’t pay its bills for even a week, 500,000 Americans would lose their jobs as the economy contracts by 0.6%."
By Brian Cheung > Business and data reporter for NBC News.
New York Yankees and Duke Basketball
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