“Failure to deal with debt limit would ‘eviscerate’ us economic recovery,” said US Treasury Secretary Janet Yellen during her Prepared remarks to Senate banking committee testimony, per Reuters.

“Cannot overstate importance for congress to deal with us debt limit,” adds Treasury Secretary Yellen.

Failure to deal with debt limit would ‘eviscerate’ US economic recovery.

The recovery cannot be detached from progress against covid.

It is critical for Congress to address the US debt limit.

Given the latest recovery in market sentiment, backed by easing fears over the South African variant of the coronavirus, dubbed as Omicron, Yellen’s comments seem neutral and were reacted with little action.

Read: Fed’s powell: Inflation will linger well into next year

Read More