US Treasury Sec. Yellen: Confident 'at this point' that US recovery remains strong
|“Failure to deal with debt limit would 'eviscerate' us economic recovery,” said US Treasury Secretary Janet Yellen during her Prepared remarks to Senate banking committee testimony, per Reuters.
“Cannot overstate importance for congress to deal with us debt limit,” adds Treasury Secretary Yellen.
"She also called on Congress to pass President Joe Biden's $1.75 trillion social and climate spending bill, saying it would end the "childcare crisis" and let parents return to work," per Reuters.
Additional comments
Failure to deal with debt limit would 'eviscerate' US economic recovery.
The recovery cannot be detached from progress against covid.
It is critical for Congress to address the US debt limit.
FX reaction
Given the latest recovery in market sentiment, backed by easing fears over the South African variant of the coronavirus, dubbed as Omicron, Yellen’s comments seem neutral and were reacted with little action.
Read: Fed's powell: Inflation will linger well into next year
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.