Treasury Secretary Janet Yellen will warn Congress in a speech later Friday morning that a government shutdown would be “dangerous and unnecessary” because it would undermine the American economy and disrupt key government functions. The comments, shared first with CNN, represent the strongest warning to date from Yellen about the negative consequences of a government shutdown that appears to be increasingly likely. “The failure of House Republicans to act responsibly would hurt American families and cause economic headwinds that could undermine the progress we’re making,” Yellen said. Unless lawmakers reach an eleventh-hour deal, Congress appears very likely to trigger a government shutdown this weekend. “When I left Washington this morning, it was still unclear whether Congress would pass legislation in time to avoid a dangerous and unnecessary shutdown,” Yellen said.

Source: CNN September 29, 2023 21:14 UTC