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Latest From Tsy Sec Yellen on Debt Limit: G-Fund Temporary Suspension

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Citing the "statutory debt limit," Tsy Sec Yellen states in latest letter to Congress, the Tsy "will be unable to invest fully the Government Securities Investment Fund (G Fund) of the Thrift Savings Fund, part of the Federal Employees’ Retirement System, in interest-bearing securities of the United States.
  • The statute governing G Fund investments expressly authorizes the Secretary of the Treasury to suspend investment of the G Fund to avoid breaching the statutory debt limit. My predecessors have taken this suspension action in similar circumstances.
  • By law, the G Fund will be made whole once the debt limit is increased or suspended. Federal retirees and employees will be unaffected by this action."

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