U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to raise the U.S. debt ceiling as soon as possible, saying the U.S. government was expected to exhaust its borrowing authority around late summer.
“I haven’t given an exact date, but I would say it’s late summer,” Mnuchin told a hearing of the House of Representatives Financial Services Committee, when asked about the timing of the potential crisis.
“I share your concern. I would urge Congress to raise the debt ceiling as soon as possible,” Mnuchin said.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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