Janet Yellen says U.S. faces recession if Congress doesn’t act

Janet Yellen, U.S. Treasury secretary, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 30, 2021.

Sarah Silbiger | Bloomberg | Getty Images

Treasury Secretary Janet Yellen on Tuesday said she believes the economy would fall into a recession if Congress fails to raise or suspend the borrowing limit before an unprecedented default on the U.S. debt.

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