Treasury Secretary Janet Yellen warns of ‘absolutely catastrophic’ hit to economic recovery this summer if US can’t pay its bills on time

Treasury Secretary Janet Yellen warns of ‘absolutely catastrophic’ hit to economic recovery this summer if US can’t pay its bills on time

Win McNamee/Getty Images On Wednesday Secretary Yellen asked Congress to extend a July deadline to pay back some of the federal debt. Without an extension, she warned of a “catastrophic” default that could hurt economic recovery. Some in the GOP have signaled they want spending cuts in exchange for increasing the debt ceiling. See more

Janet Yellen tells truth on economy — then quickly reverses herself

Janet Yellen tells truth on economy — then quickly reverses herself

On one hand, Janet Yellen is a highly trained economist who understands the Joe Biden spending bonanza could be a recipe for economic disaster. But as Treasury Secretary, she is also the captain of the Biden economic team, downplaying inflationary fears and cheerleading the big-budget bills. The schizophrenic nature of Yellen’s role inside the White