off-the-wire

UPDATE 1-Yellen to discuss debt ceiling with bank lobby group -official

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Updates sourcing and adds context on debt ceiling talks) May 11 (Reuters) - U.S. Treasury Secretary Janet Yellen will discuss the impasse over raising the government debt ceiling with board members of the Bank Policy Institute lobby group next week, a senior Treasury official told Reuters. Yellen's meeting with the board - which includes the chief executives of JP Morgan , Jamie Dimon, and of Citigroup's , Jane Fraser - was first reported by Politico.


The U.S. federal government could run out of money to pay its bills as soon as June 1, the Treasury has said, unless the debt ceiling is raised.


A debt limit meeting between U.S. President Joe Biden and top lawmakers that was scheduled for Friday has been postponed, and the leaders agreed to meet early next week, a White House spokesperson said on Thursday.


Aides from both sides have started to discuss ways to limit federal spending, as talks on raising the government's $31.4 trillion debt ceiling to avoid a catastrophic default creep forward, people familiar with


the discussions said.
(Reporting by Andrea Shalal and Costas Pitas; editing by Jasper Ward & Shri Navaratnam)

costas.pitas.thomsonreuters@reuters.net and @Cpitas on Twitter))
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