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Yellen to extend extraordinary debt management measures through Dec 3

Published 10/18/2021, 05:48 PM
Updated 10/18/2021, 05:51 PM
© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERS/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen told congressional leaders on Monday that she will extend extraordinary cash management measures to stay under the federal debt limit through Dec. 3 after a small increase in the borrowing cap was enacted last week.

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERS/File Photo

Yellen said the extended "debt issuance suspension period" would mean that Treasury would continue its suspensions of investments in the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund. It will also extend a suspension of the sale of State and Local Government Series (SLGS) securities.

"It is imperative that Congress act to increase or suspend the debt limit in a way that provides longer-term certainty that the government will satisfy all of its obligations," Yellen wrote in a letter to House Speaker Nancy Pelosi and other congressional leaders.

Latest comments

Congressional democrats understand it is the republican side that doesn't care if the country defaults. If they did they would quit blocking the vote to increase the debt ceiling.
Whoever gets to print the money is the winner. the rest are just slaves.
repubs lose if we default as it hurts US businesses which majority of Republicans are tied to.
Congress: Are you Hearren ??
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