Free Trial

Treasury Secretary Yellen Details Special Measures to Avoid Impact of Debt Limit

US

The US Treasury publishes a letter from US Treasury Secretary Yellen detailing specific measures the Treasury will undertake to continue the financing of Federal Government in the face of the government debt limit impasse.


The specific measures are:

  • Redeeming existing, and suspending new, investments into Civil Service and Postal Service retirement funds
  • Suspending reinvestment into the Government Securities Investment Fund aswell as the the Federal Employees Retirement Savings plan.
The letter states Congress has "expressly" provided Treasury with authority and that the steps mean the financing of Federal Government can continue. These retirement funds will be made whole once the debt limit impasse has ended.

Full letter found here: https://home.treasury.gov/system/files/136/Debt-Li...

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.