(CNN) – US Treasury Secretary Janet Yellen. urged on Thursday Congress raised its debt ceiling, warning that a US default would result in an “economic and financial catastrophe” that would lead to a global recession and could undermine its global leadership.
Yelin said on Thursday in Niigata, Japan, where He spoke before the meeting of ministers Finance governors and central banks in the G7.
“It could also undermine the global economic leadership of the United States and raise questions about our ability to defend our national security interests,” he added.
Yellen noted that the US Congress has raised or suspended the debt limit nearly 80 times since 1960 and urged him to move quickly to do so again.
relents Setting his “three core priorities” For the Group of Seven, one is to strengthen the global economy to reduce inflation. Yellen said the other two priorities are to redouble the commitment to support Ukraine in its defense against Russia and to discuss “long-term work to enhance economic resilience and security.”
