The development would lead to major questions over Washington’s “global economic leadership,” Janet Yellen has warned A default by the US on its sovereign debt would be disastrous for the economy and would undermine the country’s ability to provide international leadership, Treasury Secretary Janet Yellen has warned. Speaking at a press conference ahead of the G7 gathering in Japan on Thursday, Yellen cautioned that a default by Washington on its $31.4 trillion debt would trigger a global economic downturn. “[It] would also risk undermining US global economic leadership and raise questions about our ability to def
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