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U.S. Treasury adds cash management measures due to debt limit

U.S. Treasury adds cash management measures due to debt limit© Reuters. FILE PHOTO – U.S. Treasury Secretary Steven Mnuchin speaks during a moderated discussion before the Economic Club of New York, in New York City

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Monday announced cash management measures to avoid a U.S. default.

In a letter to House of Representatives Speaker Paul Ryan, Mnuchin said that the Treasury would no longer be able to fully invest in two retirement funds for federal workers.

They are the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund, according to the letter. All the funds would be made whole once the debt limit is increased, Mnuchin said.

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Source: Investing.com

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