Yellen Reports New Debt-Limit Accounting Maneuver to Congress
- Treasury to alter investments in a third government-run fund
- Yellen doesn’t offer new estimate for when cash will run out
Janet Yellen
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Treasury Secretary Janet Yellen advised Congress that her department is deploying an additional accounting maneuver to avert breaching the federal debt limit.
Yellen said in a letter to bipartisan congressional leaders that the Treasury will be altering the investments in a third government-run fund for retirees, after last week advising them of similar action for two others.