Russia is carefully monitoring the U.S. economy amid conversations of the U.S. federal government defaulting on its financial obligation commitments. Treasury Secretary Janet Yellen stated the Treasury will be not able to pay the federal government’s expenses if Congress does not act by June 1.
Russia Monitoring US Economy in Case of Debt Default
Russia is carefully monitoring the state of the U.S. economy as conversations of possible financial obligation default heighten, Kremlin Spokesman Dmitry Peskov informed press reporters on Tuesday.
“We see that the U.S. economy, just as the global economy, is currently experiencing certain problems,” Peskov was priced quote by Russian news outlet Tass as stating. “Inflation expectations continue staying at a rather high level,” he worried, including:
Certainly, we are keeping a close eye on all that. All our financial companies.
The United States is presently dealing with a financial obligation ceiling crisis. Treasury Secretary Janet Yellen alerted on Monday that the Treasury Department will not have the ability to pay all of the federal government’s financial obligation commitments by June 1 if Congress does not raise or suspend the financial obligation ceiling.
Noting that this is not the very first time severe issues have actually emerged in the U.S. economy, the Kremlin representative explained:
This happens in the United States on an exceptionally routine basis … They discovered options already. We will take a close appearance this time also.
Since 1960, Congress has actually acted 78 different times to completely raise, briefly extend, or modify the meaning of the financial obligation limitation, according to the U.S. Treasury Department’s site.
In addition to monitoring the U.S. financial scenario, Russia is also increase its de-dollarization efforts after the U.S. took about $300 billion in the Russian reserve bank properties frozen by sanctions.
Russian President Vladimir Putin stated recently that U.S. policies will backfire as Russia broadens relations with friendly nations in Eurasia, Africa, and Latin America. Russia is also going over developing a typical BRICS currency with member nations. The BRICS countries make up Brazil, Russia, India, China, and South Africa. The chairman of the State Duma Committee on the Financial Market stated recently that an arrangement on the BRICS currency can be reached in 2023.
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