The debt ceiling is about to be reached, and US Treasury Secretary Janet Yellen announced that she will initiate extraordinary measures to avoid a debt default

On January 18th, US Treasury Secretary Janet Yellen sent a letter to the US Congress saying that as the US federal government is about to hit the debt ceiling, the Treasury Department will take extraordinary measures from January 21st to avoid debt default. In her letter, Yellen called on Congress to take action as soon as possible to raise or suspend the debt ceiling to protect the credibility and economic stability of the United States. She pointed out that the Treasury Department will start a "moratorium on bond issuance period" from January 21st to March 14th. During this period, it will suspend the injection of new funds into the Civil Service Retirement and Disability Fund and the Postal Retiree Health public welfare fund to ensure that the government continues to operate within the existing funding framework, but if the debt ceiling is not resolved in the short term, the United States may face debt default.