Released on 05.10. 2021 US Treasury Secretary Janet Yellen fears "catastrophic" consequences in the event of a default. Photo: Al Drago Already heard? You can now also have your messages read out to you. Simply click on the play symbol in any article or add the article to your personal playlist using the plus symbol and listen to it later. Listen to the article: Unless Congress raises or suspends the debt ceiling, the US government is at risk of default. A solution is not yet in sight. The finance minister warns of "catastrophic" consequences. Washington (dpa) - In the opinion of Treasury Secretary Janet Yellen, a US government default would lead to a \u201crecession\u201d. If Congress does not raise the debt ceiling in time or should suspend, threatened "catastrophic" consequences, warned Yellen on the CNBC TV channel. "I absolutely expect that this would also cause a recession," said the minister. The behavior in Congress endangers the recovery of the US economy from the Corona crisis and is \u00abirresponsible\u00bb, said Yellen. The Treasury Department has warned that the US could start from the . October run out of money. A default would damage confidence in the creditworthiness of the world's largest economy, which could trigger a financial crisis and economic turmoil to blame. The Democratic President Joe Biden only accused the Republicans on Monday of blocking the increase for political reasons and thus playing \u201cRussian roulette\u201d with the US economy. A default on payment would jeopardize the US dollar's reserve currency status and lead to higher interest rates for consumers in the US, he warned. The most recent debt limit expired in July. Since then, the Ministry of Finance has been taking \u201cextraordinary measures\u201d to prevent a payment default. So far, Republicans and Democrats have still agreed to raise the limit - albeit often after trembling and several rounds of negotiations.