The threat of a US default was raised a notch on Friday after a "pause" in debt ceiling talks between the White House and the Republican opposition as the two sides wrangle with deep disagreements.

The Republican-led House of Representatives has passed a bill that would boost the US $31.4 trillion federal debt ceiling in exchange for slashing government spending.

Senator Bernie Sanders says millions of Americans are falling further and further behind economically.

Climate change may trigger asset value losses in coming years that could cascade through the US financial system, according to US Treasury Secretary Janet Yellen.

A gloomier outlook on where jobs, incomes and business conditions are headed is weighing on American consumers, with US consumer confidence falling for a second straight month, said survey data released Tuesday.

US consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated.

US Treasury Secretary Janet Yellen says “every responsible member of Congress” must agree to raise the debt ceiling.