EDITOR NOTE: The Congressional debate on raising the debt ceiling is growing increasingly tense. In a video from Forbes, Senator John Kennedy (R-LA) questions Treasury Secretary Janet Yellen. He starts by asking about inflation, and Yellen says it will “clearly” be higher than the 2% she predicted earlier in the year and will be “closer to 4%.” Kennedy then started to ask why Senator Chuck Schumer (D-NY) won’t just raise the debt ceiling by “amending the budget resolution.” Yellen interrupted, and Kennedy snapped, “let me finish.” Yellen then responded by saying that Democrats want a vote to raise the ceiling, so Republicans have to acknowledge the “shared responsibility” of the move. In the end, Yellen wouldn’t commit to recommending a budget amendment if the debt ceiling raise isn’t passed, making the economic outcome of this fight even more unknown.
Originally Posted on Youtube by Forbes Breaking News