Yellen urges Congress to lift debt limit, warns cash, extraordinary measures likely to run out in October

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Treasury Secretary Janet Yellen on Wednesday again urged Congress to “protect the full faith and credit of the United States by acting as soon as possible” to suspend or raise the federal borrowing limit. In a letter to Congressional leaders, Yellen said Treasury estimates it’s most likely that “cash and extraordinary measures will be exhausted during the month of October,” and a delay “would likely cause irreparable damage to the U.S. economy and global financial markets.”

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