Treasury Secretary Janet Yellen says she believes “we would have recession in the United States” if Congress does not raise the nation’s debt ceiling this summer, saying the situation “would be devastating.”

Yellen’s warning comes after the U.S. hit the debt ceiling on Jan. 19, with the Biden administration trying to pressure House Republicans to raise the debt ceiling as soon as possible. If the U.S. does default on its debt, the country would have “a financial crisis” on its hands, Yellen said, according to Axios.

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“Of course, it makes me nervous,” Yellen told the outlet. “It would be devastating. It’s a catastrophe.”

[Being a catastrophe herself, I’m going give her the benefit of the doubt and assume Yellen would know one if she saw one. ~ Beege]