I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money we have.

Today, I am bringing Wall Street to you, my friend, and breaking down the biggest headlines

in finance right now.

Once again, the debt ceiling is making waves in financial news.

And here's a reminder if you missed last week's update, the debt ceiling is essentially

the authorized amount of money the United States government can spend.

It's a limit that Congress authorizes, and right now there's talk of needing to raise

that limit.

The current limit last raised in 2021 is 31.4 trillion dollars.

We hit that limit last week, so something has to be done.

Like yesterday.

This week, and this is 100% a true story, Janet Yellen, the Treasury Secretary of the

United States is spending some of her precious time answering questions on whether minting

a new trillion dollar coin is a viable solution to the country's debt problem.

So let's double click on where the heck this idea comes from and what it says about the

state of our economy.

In 1996, the Commemorative Coin Act gave the Secretary of the Treasury the authorization

to mint platinum coins in any denomination.

That means that in present day 2023, Yellen has the power to mint whatever kind of coins

she wants, $1,000 coins, $1,000,000 coins, and yes, $1,000,000,000 coins, I suppose.

There is a real suggestion being thrown out that Yellen mints a trillion dollar coin and

...