Treasury: Default could bring skyrocketing interest rates

10/3/2013 | Hill, The

The Treasury Department issued a report Thursday stating that a default on the nation's debt could trigger the worst recession since the Great Depression. "Credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse," the report said.

View Full Article in:

Hill, The

Published in Briefs: