In the United States, there’s a restrict on how a lot the federal government can borrow.
On May 1, Treasury Secretary Yellen urged Congress to take immediate motion, arguing that if Congress doesn’t reply to elevating the ceiling, it might default on its debt on June 1.
In the U.S. Congress, the federal government and the ruling and opposition events have been unable to come back to phrases with one another over the debt ceiling concern, which has typically brought on confusion within the monetary markets.
US Treasury Secretary asks Congress to reply promptly to debt default on June 1 | NHK
