What the US Debt-Ceiling Battle Means for Your Money

Treasury Secretary Janet Yellen has declared that the US has hit its federal debt limit, kicking off an intense political battle that puts the global financial system at risk.

Congress and the White House have until at least early June to resolve the issue, and in the coming months investors will begin to see the impact of a possible US default on its payment obligations. Here’s what the fight could mean for jobs, stocks, bonds, your tax refund and more.