Yellen says U.S. may exhaust cash by Oct 18 barring debt ceiling rise

Published by
Reuters

By David Lawder and Susan Heavey WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told lawmakers on Tuesday the government could run out of cash by Oct. 18 unless Congress acts to lift the federal debt limit in advance of the Treasury Department exhausting efforts to preserve resources. “At that point, we expect Treasury would be left with very limited resources that would be depleted quickly,” Yellen told lawmakers during a Senate Banking Committee hearing, echoing comments she made in a letter to lawmakers. “It is uncertain whether we could continue to meet all the nation’s commitm…

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