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Month: October 2021

Gary Gensler

US default would trigger ‘significant volatility’ and ‘breakages’ in financial system, SEC Chairman warns

By Matt Egan, CNN Business Gary Gensler, the chairman of the Securities and Exchange Commission, warned lawmakers Tuesday that a US default would likely set off historic stress in financial markets because Treasuries are the bedrock of the entire system. “Although we don’t know for sure, we’d have significant volatility in the markets and we’d

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