Fed's Powell Says It's 'very Important' To Raise US Debt Limit
Sumaira FH Published September 23, 2021 | 12:30 AM
Washington, Sept 22 (UrduPoint / Pakistan Point News - 23rd Sep, 2021 ) :It is "very important" to raise the US borrowing limit, as failure to pay government debts would cause "severe damage" to the economy, Federal Reserve Chair Jerome Powell warned Wednesday.
"It's just very important that the debt ceiling be raised in a timely fashion so the United States can pay its bills when it comes due," he said. Failure to pay is "just not something we can contemplate."Republicans in the US Senate have vowed they will not support legislation to increase the cap.
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