FSOC discusses potential effects of debt-ceiling breach

Treasury Secretary Jack Lew held a meeting of the Financial Stability Oversight Council by telephone on Tuesday to discuss the potential breach of the U.S. debt ceiling and possible consequences. "Failure to raise the debt limit by Oct. 17 would place the United States government in the untenable position of operating with only the cash on hand and could severely impact financial markets and the broader economy," according to Treasury spokesman Anthony Coley.

View Full Article in:

Bloomberg · Wall Street Journal (tiered subscription model), The

Published in Briefs: