US Treasury Begins Taking 'Extraordinary Measures' After Debt Limit Reinstated - Yellen

Faizan Hashmi Published August 03, 2021 | 01:40 AM

US Treasury Begins Taking 'Extraordinary Measures' After Debt Limit Reinstated - Yellen

WASHINGTON (UrduPoint News / Sputnik - 03rd August, 2021) The US Treasury has started taking extraordinary cash-conservation measures to avoid bursting the Federal borrowing limit after a two-year suspension of the debt ceiling expired at the end of July, Treasury Secretary Janet Yellen said Monday.

"Due to the reinstatement of the debt limit, on July 30 Treasury suspended until further notice the sale of state and local government series securities. This letter serves to notify you ... of additional extraordinary measures Treasury began using today," Yellen said in a letter addressed to House Speaker Nancy Pelosi, a Democrat, and copied to Republicans leaders in both Congress and the Senate.

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