Treasury avoids debt default after U.S. hits debt ceiling

Treasury Secretary Janet Yellen announced another step she is taking to prevent the U.S. from defaulting on its debt.

COLUMBIA, S.C. (WOLO)— Treasury Secretary Janet Yellen announced another step she is taking to prevent the U.S. from defaulting on its debt.

She told House Speaker Kevin McCarthy Tuesday, the Treasury will stop fully investing in the government securities investment fund.

The thrift savings fund portion of that is part of the federal employees’ retirement system.

The move is one of the so-called “extraordinary measures” Yellen is authorized to take when the U.S. can’t borrow any more money.

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