White House Warns of Recession as Debt Limit Battle Continues
WASHINGTON : White House economists on Wednesday warned of “serious damage” to the U.S. economy in the event of a default, warning that a prolonged default could lose 8.3 million jobs and send the stock market plunging 45%.
American economybattlecontinuesCouncil of Economic Advisersdebtdebt defaultdebt limitHouselimitrecessionTreasury Secretary Janet YellenwarnswhiteWhite House
Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.