Yellen Says It's Hard to Predict an X-Date

Treasury Secretary Janet Yellen warns that the Treasury may run out of cash by June 1st, causing stress in financial markets. The timeline for this 'X date' is fluid, with potential extensions. There is criticism over the lack of transparency from the Treasury regarding what happens if the debt ceiling isn't raised. Contingency plans are unclear, and the US has never defaulted on its debt before, leaving uncertainty about the future.

What is the earliest date mentioned by Janet Yellen for the Treasury potentially running out of cash?

• May 31st

• June 1st

• June 8th

• July 1st

Why is the 'X date' considered fluid according to the transcript?

• Because the Treasury has a fixed income

• Due to unpredictable daily receipts and obligations

• Due to a lack of communication from the Treasury

• Because Congress has already decided on a date

What is one of the main criticisms from Republicans regarding the Treasury's handling of the 'X date'?

• The absence of a financial plan

• The lack of a fixed date

• The involvement of Wall Street

• The lack of transparency

What is Janet Yellen's stance on the planning for market stress after the 'X date'?

• She has a detailed plan

• She is actively involved

• She has not discussed it with banks

• She has already implemented measures

Why is there uncertainty about what happens if the U.S. reaches the 'X date' without raising the debt ceiling?

• Because it has happened many times before

• Because the U.S. has never defaulted on its debt

• Because there is a clear plan in place

• Because the Treasury has provided detailed guidance