US Treasury Secretary Yellen says if Congress fails to raise the debt ceiling, "we will face financial and economic catastrophe"
- Still some uncertainty on precisely when we will run out of cash, will update Congress on the X-data as more data becomes available.
- Regional banks have been under stress, those that failed tended to have substantial losses.
- Overall, the banking system is well-capitalised and still have vey sold earnings.
- Have concerns with some Chinese trade practices.
- Intends to visit China but cannot say when; not had contact yet with her new Chinese counterpart.
12 May 2023 - 08:53- Bank Speaker- Source: Newswires
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