Exclusive: Goldman Sachs says even a near-default on US debt could spark a recession and market mayhem | CNN Business

“If there were any doubt about the US government’s ability or willingness to make interest and principal payments on time, that could have very, very adverse consequences,” Jan Hatzius, the chief economist at Goldman Sachs, told CNN in an interview.The United States hit the debt ceiling last week, forcing Treasury Secretary Janet Yellen to make accounting maneuvers to avoid breaching that $31 trillion borrowing limit. If Congress fails to lift the debt ceiling in time, Hatzius said investors will worry there is a chance of a missed payment on US Treasuries — which are “maybe the most important asset in the global economy.”Unlike many of its peers on Wall

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

10 Business Strategies and Trends to Consider in 2023

Opinions expressed by Entrepreneur contributors are their own. As we enter 2023, it's clear that we are entering an altered business paradigm...

4 Ways to Stop Passive Aggression From Creating a Toxic Workplace

Opinions expressed by Entrepreneur contributors are their own. The way that employees communicate has changed significantly as companies migrated to remote work...

Exclusive: Goldman Sachs says even a near-default on US debt could spark a recession and market mayhem | CNN Business

"If there were any doubt about the US government's ability or willingness to make interest and principal payments on time, that could have very,...