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MNI BRIEF: Yellen-Treasury To Adopt Measures To Skirt Default

(MNI) WASHINGTON

Extraordinary measures should last until at least early June.

USPolitical RiskPolicy NewsHomepageFiscalGovernment sectorBriefGlobalStoryRegionNorth America

The U.S. Treasury will soon start taking extraordinary measures to keep paying debt obligations while Congress grapples with the debt ceiling, Secretary Janet Yellen wrote in a letter to House Speaker Kevin McCarthy Friday, noting these steps could last until at least early June.

"Beginning on Thursday, January 19, 2023, the outstanding debt of the United States is projected to reach the statutory limit. Once the limit is reached, Treasury will need to start taking certain extraordinary measures to prevent the United States from defaulting," she said.

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The U.S. Treasury will soon start taking extraordinary measures to keep paying debt obligations while Congress grapples with the debt ceiling, Secretary Janet Yellen wrote in a letter to House Speaker Kevin McCarthy Friday, noting these steps could last until at least early June.

"Beginning on Thursday, January 19, 2023, the outstanding debt of the United States is projected to reach the statutory limit. Once the limit is reached, Treasury will need to start taking certain extraordinary measures to prevent the United States from defaulting," she said.

Keep reading...Show less