U.S. Treasury Secretary Jacob Lew: the U.S. government will run out of cash if the federal borrowing limit will not be raised

Market news

16 October 2015

U.S. Treasury Secretary Jacob Lew: the U.S. government will run out of cash if the federal borrowing limit will not be raised

U.S. Treasury Secretary Jacob Lew said on Thursday that the U.S. government will run out of cash if the federal borrowing limit will not be raised because emergency cash-management measures will be exhausted by November 03.

"We do not foresee any reasonable scenario in which it would last for an extended period of time," he said in a letter to U.S. Congress.

The emergency measures currently total $18.1 trillion.

Cleveland Fed President Loretta Mester: the U.S. economy can handle interest rate hike

U.S. budget deficit turns to a surplus of $91.0 billion in September

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