US Debt Ceiling Default Deadline Is Still Early June, Yellen Warns

Treasury Secretary Janet Yellen reiterated her projection that the U.S. debt ceiling default deadline is early June, when her department might exhaust the extraordinary measures that have been employed since January.
Yellen confirmed at a virtual Wall Street Journal CEO Summit on May 24 that she would soon update Congress about government finances, adding that payment prioritization isn’t operationally feasible and that the Treasury will be unable to cover some obligations following the so-called X-date.
“It’s highly likely that we would run out of resources to meet all the government’s obligations in early June and possibly as early as June 1,” she said. “We no longer see very much likelihood that our resources will enable us to get to the middle or end of June.”…}