Yellen Says It’s Now ‘Highly Likely’ US Out of Cash Early June

Treasury Secretary Janet Yellen said it’s now “highly likely” that her department will run out of sufficient cash in early June, and repeated her warning that the moment could come as soon as June 1.

“I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government’s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1,” Yellen said Monday in a letter to lawmakers.

A week ago, Yellen had said it was ...