Treasury Secretary Janet Yellen has strongly urged Congress to take immediate action on raising the debt ceiling. Any delay, she cautioned, risks disrupting crucial government functions and undermining financial stability. Without congressional cooperation on this vital issue, America risks sovereign default with devastating consequences. Such an outcome would ripple through global markets, spiking interest rates on everything from car loans to home mortgages. It could even derail the fragile economic recovery. Yellen appealed for members on both sides of the aisle to work together. Upholding America’s full faith and credit, she emphasized, must transcend partisanship in this fractious political climate. The stability of the world’s dominant economy hangs in the balance.
Janet Yellen warned Congress to act as U.S.
