Secretary Yellen says that next month the U.S. Treasury Department will probably exhaust its options for avoiding payments default, unless the debt ceiling is increased or removed.
The deceleration reflects growing fears about the Covid-19 delta variant and difficulties filling vacant positions. U.S. payrolls are still 5.3 million below their pre-pandemic level.
Disinterest in reopening communication channels active under President Obama indicates a continuing deterioration in ties between the world's two biggest economies.