1 min read.Updated: 05 Oct 2021, 05:36 PM ISTAgencies
Asked during an interview if she would back a process called ‘reconciliation’ for getting the limit increased without any Republican support, Yellen said: 'I support getting it done'
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US Treasury Secretary Janet Yellen warned Tuesday that a US debt default could trigger another recession, as an October 18 deadline approaches. Yellen said it was "utterly essential" for Congress to lift the federal debt limit ahead of the October 18 deadline.
"I totally expect it would cause a recession," the US Treasury Secretary said on CNBC, referring to what would be an unprecedented US default as lawmakers fight over raising the debt ceiling.