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Treasury Starts Additional Steps to Avoid Debt-Limit Breach

  • Department suspending new investments in some government funds
  • Yellen urges Congress to act on ceiling ‘as soon as possible’
Updated on

The Treasury Department began using additional special measures to avoid U.S. default, after the debt limit was reinstated Sunday following a two-year suspension.

The department is pausing new investments in several federal employee retirement and benefit funds, Treasury Secretary Janet Yellen said Monday in a letter to Congress. Previous secretaries have taken similar action during prior episodes over the limit, Yellen wrote.