Treasury said Yellen will talk with JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser and others, to discuss the impasse over raising the government's borrowing limit.
Treasury Secretary Janet Yellen will meet with top Wall Street bankers in Washington next week as the Biden administration and Republican leaders scramble to reach a deal to avoid a debt default.
People close to the leaders of some of the largest banks — including JPMorgan, Citi and Goldman Sachs — say that up to now they had not received any direct outreach from Yellen. Neil Bradley, lead lobbyist for the U.S. Chamber of Commerce, said Wednesday he was “not aware of specific conversations” that she’s had with his members.
Next week’s meeting, along with an appearance at a Washington summit hosted by a group that represents small and independent financial institutions, is an extension of those efforts.Despite their sway over markets, Wall Street has largely held off on direct engagement with policymakers in the debt limit fracas. But executives like Dimon and Fraser have warned repeatedly that a default would be disastrous.
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