Yellen Warns of ‘Economic and Financial Catastrophe,’ but Insists It’s ‘Preventable’

Yellen Warns of ‘Economic and Financial Catastrophe,’ but Insists It’s ‘Preventable’
Treasury Secretary Janet Yellen speaks in Dearborn, Mich., on Sept. 8, 2022. Paul Sancya/AP Photo
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
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Treasury Secretary Janet Yellen on Tuesday warned of an “economic and financial catastrophe” that would decimate jobs and make loans more expensive for years to come if Congress fails to raise the debt ceiling and the government defaults on its obligations.

Yellen issued the warning in prepared remarks for the 51st annual Sacramento Metro Chamber’s annual Capitol-to-Capitol program, a meeting with California business executives.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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