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US Treasury Secretary Janet Yellen pushes back forecast of potential US default date to June 5

Janet Yellen United States Kevin McCarthy Joe Biden Social Security White House Medicare

US President Joe Biden met with Kevin McCarthy over the debt ceiling crisis. (Reuters: Evelyn Hockstein)

US Treasury Secretary Janet Yellen has extended the deadline for raising the federal debt limit, saying the government would default on its obligations if Congress does not increase the country's $US31.4 trillion ($48 trillion) debt ceiling by June 5.

Ms Yellen had previously said a default could happen potentially as early as June 1.

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