Debt Ceiling Fight Breaks Out

WASHINGTON, DC - DECEMBER 15: U.S. Treasury Secretary Janet Yellen delivers remarks during a meeting with the President of Zambia Hakainde Hichilema during the U.S. - Africa Leaders Summit on December 15, 2022 in Washington, DC. The Summit brings together heads of state, government officials, business leaders, and civil society to strengthen ties between the U.S. and Africa. (Photo by Kevin Dietsch/Getty Images)

At a glance

Treasury Secretary Janet Yellen informed Congressional leaders Friday that the federal government would likely hit the debt limit on Thursday. As a result, Treasury will have to take “extraordinary measures” to keep paying creditors who own the U.S. government’s bonds.

 

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