Yellen Warns No Good Options to Congress on Debt Limit

The transcript discusses the ongoing debate over the U.S. debt limit, highlighting Janet Yellen's insistence that Congress should lift the cap to avoid economic catastrophe. It explores the potential use of the 14th Amendment, which some argue could allow President Biden to issue debt without Congress. Yellen deflects on this option, while Biden remains open to it, indicating uncertainty and the need for a clean debt ceiling lift.

What does Janet Yellen suggest is Congress's responsibility regarding the debt ceiling?

What potential economic consequence does Yellen warn about if Congress fails to act on the debt ceiling?

How does President Biden's statement regarding the 14th Amendment reflect his position on the debt ceiling?

What is the significance of the 14th Amendment in the context of the debt ceiling discussion?

What does Yellen imply about the preferred solution to the debt ceiling issue?