Global Analysis from the European Perspective. Preparing for the world of tomorrow

Six former Treasury secretaries urge Congress to ‘move swiftly’ on debt ceiling

  • Six former Treasury secretaries urged Congress in a letter to take quick action to raise or suspend the U.S. debt ceiling or else risk “serious economic and national security harm.”
  • The six warned House Speaker Nancy Pelosi that even flirting with a first ever U.S. default could spook markets and raise concerns about the country’s credit.
  • The letter was signed by former Treasury Secretaries Henry Paulson, Timothy Geithner, Larry Summers, Jack Lew, Robert Rubin and Michael Blumenthal.
  • Steven Mnuchin, who served as Treasury secretary under former President Donald Trump, did not sign the letter. Source CNBC

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