U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress

Treasury Secretary Janet Yellen wrote House Speaker Kevin McCarthy, 'It is unlikely that cash and extraordinary measures will be exhausted before early June.'

Treasury Secretary Janet Yellen notified Congress that the U.S. will reach its statutory debt limit next Thursday.

Yellen wrote House Speaker Kevin McCarthy, "It is unlikely that cash and extraordinary measures will be exhausted before early June."

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