U.S. Treasury Secretary Yellen: The United States will never default

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Yellen attempted to reassure Wall Street about the state of U.S. public finances last Sunday, insisting that the U.S. will never default on its debt.

Yellen dismissed concerns raised by JPMorgan CEO Dimon last Friday, who suggested that the U.S. bond market would "collapse" under the pressure of rising debt. Yellen stated that the U.S. will gradually reduce the deficit, with the goal of achieving this within the next four years.