The Treasury Department will stop fully investing in a government investment vehicle for federal employees as the U.S. bumps up against its debt ceiling, Janet Yellen said
House Republicans are planning to use the debt ceiling, which will need to be raised in 2023, as leverage to get spending cuts. But Democrats are looking to act now in the lameduck session to prevent that. WSJ explains three things they could do.The Treasury Department will stop fully investing in a government investment vehicle for federal employees as the U.S., Secretary Janet Yellen said Tuesday in a letter to congressional leaders.
The department will hold back money from the Government Securities Investment Fund of the Thrift Savings Fund, known as the “G Fund,” Ms. Yellen said. The G Fund allows government employees to save in interest-bearing U.S. securities as part of their retirement savings.
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