Yellen Says Default Would Cause Loss Of Confidence In US, Dollar's Reserve Currency Status

Fahad Shabbir (@FahadShabbir) Published March 23, 2023 | 12:20 AM

Yellen Says Default Would Cause Loss of Confidence in US, Dollar's Reserve Currency Status

WASHINGTON (UrduPoint News / Sputnik - 23rd March, 2023) If the United States defaults on its debt, it would trigger a loss of confidence in the US and the Dollar's status as a reserve currency, Treasury Secretary Janet Yellen said on Wednesday.

"It would be a failure of the US government for the first time since 1789 to fail to pay bills that it incurred and it would cause a loss of confidence in the United States as the safest country, that our Currency is a reserve country with currency used by the world," said Yellen during a senate hearing.

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