Former GOP treasury secretaries tried defusing debt ceiling bomb in private talks with McConnell, Yellen

   < < Go Back
from The Washington Post,

Two former GOP treasury secretaries held private discussions this month with Treasury Secretary Janet L. Yellen and Senate Minority Leader Mitch McConnell (R-Ky.) hoping to resolve an impasse over the debt limit that now threatens the global economy, according to four people aware of the conversations.

The backchanneling by Mnuchin and Paulson — who had previously worked together at Goldman Sachs — reflects the widespread alarm among economists and U.S. business interests about the consequences of an unprecedented default on the federal debt.

More From The Washington Post (subscription required):