U.S. Treasury Secretary Yellen Says It Is Hard To Be Precise Exactly Which Day We Will Run Out Of Resources; Reiterates Treasury May Run Out Of Cash Soon As June 1; Believes A Deal Is Possible To Avoid Debt Limit Default
Portfolio Pulse from Happy Mohamed
U.S. Treasury Secretary Yellen warns that the Treasury may run out of cash as soon as June 1, making it difficult to predict the exact day resources will be depleted. She believes a deal is possible to avoid debt limit default.
May 24, 2023 | 2:21 pm
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Yellen's warning about the Treasury running out of cash by June 1 may cause short-term uncertainty in the market, potentially impacting the SPY ETF.
Yellen's statement about the Treasury running out of cash creates uncertainty in the market, which may lead to short-term volatility. As SPY is a broad market ETF, it is likely to be impacted by this news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50