A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin.

Tech Insider : Economy, Politics
U.S. Secretary of the Treasury Janet Yellen (L) and Second Gentleman Douglas Emhoff inspect a series of dies used in the production of the new American Women Quarters Program which includes the Maya Angelou quarter dollar coin, during a tour of the Denver Mint on March 11, 2022 in Denver, Colorado.
U.S.

US debt limit has seen 78 changes since 1960. This time is likely no different, says Bank of America's wealth management team

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congress
A view of the House chamber as the House meets for the third day to elect a speaker and convene the 118th Congress in Washington, Thursday, Jan. 5, 2023.

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A US debt default could spark mass unemployment, payment failures, and catastrophe that would raise interest rates 'into perpetuity,' Treasury Secretary Janet Yellen warns

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Treasury Sec. Janet Yellen
U.S. Treasury Secretary Janet Yellen speaks during a news conference at the IMF and World Bank Annual Meetings at IMF headquarters, October 14, 2022 in Washington, DC.

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Republicans want to ban banning gas ovens as part of their legislation to raise the debt ceiling

Tech Insider : Economy, Politics
Kevin McCarthy and a gas stove
Kevin McCarthy wants to save the gas stoves.

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The Treasury market is starting to price in the possibility of a US debt default in July

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US Treasury Building

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Nobel economist Paul Krugman says there's no real risk to the dollar - unless the US defaults on its debt

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Paul Krugman
Princeton economics and international affairs professor Paul Krugman listens during his introduction as the 2008 Nobel prize winner in economics at a new conference on the campus of Princeton University in Princeton, New Jersey.

Reuters/Tim Shaffer

Markets are growing nervous over the prospect of a US default as debt ceiling deadline looms

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worried trader

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Republicans reportedly want to ban student loan forgiveness and make it harder to get food stamps in a debt ceiling deal — and they seem to want to do it all over again next year

Tech Insider : Economy, Politics
Kevin McCarthy
House Minority Leader Kevin McCarthy (R-CA) receives applause from fellow Representatives at the start of the 118th Congress on January 3, 2023.

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Republicans are preparing to let some bills go unpaid as the debt ceiling crisis looms. Janet Yellen says their plan is just 'default by another name.'

Tech Insider : Economy, Politics
Janet Yellen
Treasury Secretary Janet Yellen.

AP Photo/Patrick Semansky, File

House Republicans are reportedly getting ready for the US to default as the debt ceiling draws closer

Tech Insider : Economy, Politics
Kevin McCarthy
Rep. Kevin McCarthy of California wades through reporters on the way to the House floor.

Kent Nishimura /Los Angeles Times via Getty Image

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