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GRE Business Report: February 10th

The top business headlines.
Janet Yellen will make her first appearance on Capitol Hill this week as head of the Federal Reserve. Yellen will give lawmakers her semi-annual testimony on the state of the economy Tuesday. Wall Street will be listening very closely to her comments to gauge how aggressively she plans to scale back the stimulus program. 

The U.S. Treasury Secretary is issuing a new warning on the debt ceiling. Jack Lew told congressional leaders the Treasury could run out of money to pay the country's bills if lawmakers fail to raise or suspend the debt ceiling by February 27th. These bills include everything from issuing social security checks to making payroll for military personnel. Lew is now urging Congress to act quickly to provide certainty to the economy and financial markets. 

There is a meat recall coming from the Rancho Feeding Corporation in California. It involves nearly nine million pounds of beef and veal products. Federal officials say the meat came from diseased animals that were not properly inspected. No illnesses have been reported. The meat was shipped to distribution centers and retail establishments in California, Florida, Illinois and Texas. It was sent between January 2013 and 2014. 
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