Oz Blog News Commentary

buying african coconuts with peanut money.......

January 29, 2023 - 11:37 -- Admin

US Treasury Secretary Janet Yellen is "nervous" about the probability of the US defaulting on its debt which could translate into nothing short of a "catastrophe" for the nation, as she told American reporters during her Africa trip.

Speaking to US journalists on January 28, Treasury Secretary Janet Yellen described a picture of forthcoming doom in case GOP-led House Republicans refuse to raise the debt ceiling without hesitation this summer.


"Of course, it makes me nervous," Yellen said. "It would be devastating. It's a catastrophe." According to the Treasury secretary, the US will face a "financial crisis" and "recession" in the event of a default.


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