U.S. Markets

U.S. Treasury says taking extraordinary measures to avoid debt ceiling

FILE PHOTO: U.S. Secretary of the Treasury Steven Mnuchin speaks at the Jordan Growth and Opportunity Conference in London, Britain February 28, 2019. REUTERS/Toby Melville/Pool

WASHINGTON (Reuters) - The U.S. Treasury is taking extraordinary measures to avoid violating the government debt limit, Treasury Secretary Steven Mnuchin said in a letter to House of Representatives Speaker Nancy Pelosi on Monday.

He said he was suspending investment in the Civil Service Retirement and Disability Fund and a “debt issuance suspension period” would begin on Monday and last until June 5.

“I respectfully urge Congress to protect the full faith and credit of the United States by acting to increase the statutory debt limit as soon as possible,” Mnuchin said.

Reporting by David Lawder; Writing by Mohammad Zargham; Editing by Eric Beech