Treasury Sec Yellen To Hold Presser On G7 Trip 11 May

US Treasury Dep't confirms that Treasury Secretary Janet Yellen will hold a press conference on 11 May as part of the meeting of G7 finance ministers and central bank governors taking place in Niigata, Japan 11-13 May. The finance ministers' meeting comes a week before the G7 leaders' summit taking place in the city of Hiroshima form 19-21 May.

• The G7 trip would have likely been used as an opportunity for Yellen to tout the Biden administration's economic agenda and seek to shore up support for maintaining a hard line on Russian sanctions. However, with the debt ceiling 'X date' approaching in the coming weeks, the Treasury Sec is likely going to have to have to use the meeting as an opportunity to reassure partners and markets that a deal will be reached to avoid a first-ever default on US debt.