{"id":51084,"date":"2021-09-20T23:39:07","date_gmt":"2021-09-20T19:39:07","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=51084"},"modified":"2021-09-20T23:39:25","modified_gmt":"2021-09-20T19:39:25","slug":"yellen-warns-of-cash-catastrophe","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/yellen-warns-of-cash-catastrophe\/09\/20\/market-updates\/","title":{"rendered":"Yellen warns of cash catastrophe"},"content":{"rendered":"\n<p>Janet Yellen renewed, Monday, her call for Congress to raise or suspend the nation&#8217;s debt before October. <\/p>\n\n\n\n<p>The U. S. Treasury Secretary has warned that failure to do so may trigger an unprecedented financial crisis in the United States.<br>&#8220;The U.S. has always paid its bills on time,&#8221; Yellen wrote in a Wall Street Journal article.<\/p>\n\n\n\n<p>&#8220;But the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe&#8221;, she added.<br><\/p>\n\n\n\n<p>The Treasury Department began the implemention of extraordinary measures aiming at keeping the government running after the debt limit restored around $22 trillion in August \u2013 about USD 6 trillion less than the existing level.<br>Yellen warned the Congress that the federal government could run out of cash to pay outstanding bills sometime in October 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Janet Yellen renewed, Monday, her call for Congress to raise or suspend the nation&#8217;s debt before October. The U. S. Treasury Secretary has warned that failure to do so may trigger an unprecedented financial crisis in the United States.&#8220;The U.S. has always paid its bills on time,&#8221; Yellen wrote in a Wall Street Journal article. &hellip;<\/p>\n","protected":false},"author":13,"featured_media":41922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[7486,7272,7487,7485],"class_list":["post-51084","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-cash-crisis","tag-congress","tag-debt-ceiling","tag-yellen"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=51084"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51084\/revisions"}],"predecessor-version":[{"id":51086,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51084\/revisions\/51086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/41922"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=51084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=51084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=51084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}