US Treasury Secretary Janet Yellen urged Congress to raise its debt ceiling, warning that a US default would produce an "economic and financial catastrophe" that would trigger a global economic downturn and risk undermining the country's ability to provide global leadership."A default would threaten the gains that we've worked so hard to make over the past few years in our pandemic recovery," Yellen said Thursday in Niigata, Japan, where she is attending a meeting of G7 finance ministers and central bankers."And it would spark a global downturn that would set us back much further."
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