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Extraordinary Measures

All articles tagged with #extraordinary measures

politics2 years ago

June 5th Deadline Looms for Debt Ceiling Agreement

Treasury Secretary Janet Yellen estimated that the US will reach the debt ceiling on June 5, and the government will not have adequate resources to satisfy all of its obligations. The Treasury Department has been using extraordinary measures to help the government pay the bills since January, and Yellen urged lawmakers to act without delay. Waiting until the last minute to reach a deal has already caused borrowing costs to go up for securities maturing in early June.

via CBS News|
#congress#debt-ceiling#extraordinary-measures
finance2 years ago

The Elusive X-Date: Decoding the US Debt Ceiling Deadline

The Treasury Department will proceed with auctions for certain short-term Treasury bills next week, which some observers interpret as a sign that lawmakers may have additional time beyond the June 1 deadline to finalize a deal to raise the debt limit and avoid a catastrophic default. Treasury Secretary Janet Yellen has warned that the Treasury will likely exhaust its "extraordinary measures" in the first half of June. Congress is racing to finalize a deal to raise the U.S. debt limit and avert a default that could arrive as early as June 1 and hurt the economy.

via Fox Business|
#auctions#congress#debt-ceiling
finance2 years ago

US Treasury's Cash Reserves Nearing Depletion Amidst Debt-Ceiling Deadlines

The US Treasury Department is expected to run out of cash to fund the federal government's obligations by June 8 or 9 unless the debt ceiling is lifted, according to a report by Goldman Sachs. Negotiators representing the Biden administration and congressional Republicans have been operating under the assumption June 1 will be the date on which Treasury exhausts its extraordinary measures, which could give lawmakers extra time to finalize a deal if the June 8 or 9 estimate from the Goldman Sachs note pans out. Treasury Secretary Janet Yellen said Sunday during an interview on NBC’s "Meet the Press" the likelihood of the U.S. making it to mid-June without the Treasury exhausting its extraordinary measures is "quite low" and that June 1 remains the hard deadline.

via Fox Business|
#debt-ceiling#extraordinary-measures#finance