(Bloomberg) -- The Treasury Department will probably exhaust its measures to avoid breaching the debt limit sometime in October, Secretary Janet Yellen said Wednesday, offering more specific guidance than she previously gave.
“Based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October,” Yellen said in a letter to Congress. “We will continue to update Congress as more information becomes available.”
Yellen had previously said in July that there were scenarios in which the Treasury could exhaust its special measures and run out of cash “soon after Congress returns from recess” in September.
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