Fed's Fisher says U.S. flirtation with default an 'embarrassment'
DALLAS, Oct 7 (Reuters) - A U.S. central banker known for his criticism of Washington politics warned on Monday that the standoff in Congress that has shut down the U.S. government could drive the country to the edge of defaulting on its sovereign debt.
The United States will run dangerously low on cash if lawmakers do not raise the federal borrowing cap by Oct. 17, and a default could follow within a week.
"I deeply hope and I don't think we'll default, but it will come down to the wire," Dallas Federal Reserve Bank President Richard Fisher said in a forum at Southern Methodist University in Texas. "It's an embarrassment for my country."
(Writing by Ann Saphir; editing by Christopher Wilson)