The Latest Breaking News from Janet Yellen

The government could run out of money to pay its bills as soon as June 1. President Biden said talks were "productive" though Speaker Kevin McCarthy said "I didn't see any new movement."

Experts say a failure to raise the debt limit would force the government to default on its debt and precipitate a worldwide financial crisis.

The treasury secretary warns that the U.S. could default on its debt by June 1, with disastrous economic consequences. GOP Rep. Dusty Johnson explains why Republicans insist on adding conditions.

June S&P 500 futures (ESM23) are up +0.02%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.11% this morning as market participants awaited crucial U.S. inflation data that could influence the Federal Reserve’s monetary policy stance.

US Treasury Secretary Janet Yellen has urged lawmakers to find common ground and raise the country's borrowing limit. Speaking to ABC News, she also warned that the idea of invoking the 14th amendment to raise the debt ceiling could lead to a "constitutional crisis". Also, the Financial Times reports that…

The Treasury secretary paints a dire picture of what might happen if the borrowing limit is not increased before the department runs out of what it calls ‘extraordinary measures’ to operate under the current cap.

Treasury Secretary Janet Yellen says there are “no good options” for the United States to avoid an economic “calamity” if Congress fails to raise the nation’s $31 trillion-plus borrowing limit in the coming weeks

Kevin McCarthy combines ambition and weakness. Hard-line Republicans claim to be the saviors of fiscal sanity. Their hypocrisy, even by Washington standards, is stunning, but Biden is taking a risk by not negotiating.

That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit