United States Treasury Secretary Janet Yellen Announced New Default Date to 5th June 2023 from 1st June 2023, if Debt Ceiling is Not Raised from $31.4 Trillion

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United States Treasury Secretary Janet Yellen Announced New Default Date to 5th June 2023 from 1st June 2023, if Debt Ceiling is Not Raised from $31.4 Trillion

27th May 2023 | Hong Kong

The United States Treasury Secretary Janet Yellen has announced a new country default date to 5th June 2023 from 1st June 2023 if the debt ceiling is not raised from the current $31.4 trillion.  United States Treasury Secretary Janet Yellen: “Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the governments’ obligations if Congress has not raised or suspended the beet limit by June 5.  We will are more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients.  These payments will leave Treasury with an extremely low level of resources.”  A default would lower the value of US Treasury Bonds.  China has already gradually reducing holdings of US Treasury Bonds over the years to $859 billion in March 2023.

“ United States Treasury Secretary Janet Yellen Announced New Default Date to 5th June 2023 from 1st June 2023, if Debt Ceiling is Not Raised from $31.4 Trillion “

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United States Treasury Secretary Janet Yellen Says Country Could Default by 1st June 2023 if Debt Ceiling is Not Raised from $31.4 Trillion

5th May 2023 – The United States Treasury Secretary Janet Yellen has said the country (United States) could default by 1st June 2023 if the debt ceiling is not raised from the current $31.4 trillion.  A default would lower the value of US Treasury Bonds.China has already gradually reducing holdings of US Treasury Bonds over the years to $859 billion in March 2023.

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