[Yellen warned on the eve of the meeting between Biden and McCarthy: "time is running out." before US President Joe Biden met with congressional leaders on Tuesday on the debt impasse, his Treasury Secretary Yellen warned that "time is running out" to avoid economic disaster because the debt ceiling cannot be raised. House Speaker McCarthy also said Monday night: "We only have so many days to deal with this issue." Before the second White House meeting in two weeks, the two sides showed few signs of reaching a consensus other than the countdown to the deadline. Although aides have been negotiating for several days, Republicans are still reducing their holdings and demanding across-the-board spending cuts, while Democrats are determined to defend the president's legislative achievements. "We have seen a near-marginal impact: investors are more reluctant to hold government debt that matures in early June," Ms. Yellen said at a banking conference on Tuesday. "the impasse has increased the debt burden on American taxpayers." "every day when Congress does not act, we are experiencing rising economic costs, which could slow down the US economy," Yellen said.