Yellen Says Debt Default Would Hurt US International Leadership

  • Says US national security could also take a hit from default
  • Says Congress should consider discarding the debt limit
Yellen Says Default Would Hurt US International Leadership

Treasury Secretary Janet Yellen said failure to avoid a looming federal government default would undermine Washington’s ability to provide international leadership and defend US national security.

Yellen has long warned a default could cause an “economic and financial catastrophe.” She added the new wrinkles Thursday while in Japan to attend a meeting of Group of Seven finance officials.