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Neither Default Nor Chaos

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Neither Default Nor Chaos
Treasury Secretary Janet Yellen listens during an open session of a Financial Stability Oversight Council meeting at the Department of the Treasury in Washington on April 21, 2023. Alex Wong/Getty Images
Milton Ezrati
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Commentary

Treasury Secretary Janet Yellen has warned again (and again and then again) about the dire approach to Washington’s debt ceiling. She has told the nation that the prospect is near and that it could cause the country to default on its debt, an event, she adds, that would bring financial and economic chaos.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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