Economy

Yellen says a U.S. default may trigger world monetary disaster


© Stocksak. FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks throughout her interview with Stocksak in New Delhi, India, November 11, 2022. REUTERS/Altaf Hussain

DAKAR (Stocksak) – U.S. Treasury Secretary Janet Yellen instructed CNN on Friday {that a} potential U.S. default may trigger a worldwide monetary disaster and undermine the position of the U.S. greenback as a reserve forex.

The U.S. authorities hit its $31.4 trillion borrowing restrict on Thursday, a determine that displays cash already spent by the federal government. Yellen has knowledgeable congressional leaders that her division had begun utilizing extraordinary money administration measures that would stave off default till June 5.

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