Yellen Warns of Looming Debt Ceiling Crisis, Urges Congress to Act to Avoid Default

Treasury Secretary Janet Yellen warned that the U.S. will hit its debt ceiling between January 14 and 23, 2025, requiring "extraordinary measures" to avoid default. She urged Congress to raise the borrowing limit to protect the nation's financial stability, following a recent bill that avoided a government shutdown but did not address the debt limit issue.