Reported 1 day ago
Treasury Secretary Janet Yellen announced that the U.S. Treasury will likely have to implement special accounting measures by mid-January to avoid exceeding the new debt limit, which is set to be established at the outstanding debt amount on January 2, 2025. A brief respite is expected as outstanding debt will decrease by $54 billion due to the redemption of securities, but this additional room will be exhausted by mid-January. Yellen urged lawmakers to secure the nation’s fiscal integrity amid anticipated fiscal policy battles with the new administration.
Source: YAHOO