Reuters: “Yellen, in a letter on Friday to congressional leaders just three days before the Biden administration turns over U.S. government control to President-elect Donald Trump and his team, said the Treasury would begin using extraordinary measures on Jan. 21.”
“Yellen said the Treasury would suspend investments in two government employee benefit funds through March 14, to claw back borrowing capacity under the $36.1 trillion debt ceiling.”
Incoming Treasury Secretary, Scott Bessent called the ceiling a “nuanced convention” and said Trump could work with Congress to eliminate it.