If a default occurs in the United States, the country will no longer be trusted by international partners. This statement was made on March 22 by US Treasury Secretary Janet Yellen.
She spoke during hearings in the US Congress and during her speech stressed that in the event of a default, the American dollar would also lose confidence in the international arena.
“This will lead to a loss of confidence in the United States as the most (economically) secure country, as well as in our reserve currency, which will cause incredible economic damage”– stated the head of the US Treasury.
Recall that Yellen said that the United States is facing default due to the financial crisis, back on January 21. After that, American leader Joe Biden accused the Republicans of trying to lead the US to default.
A few days ago REN TV explained whether the banking crisis in the United States is dangerous for Russia. It was also reported what the bankruptcy of Silicon Bank would mean for the United States itself.