News Headline Summary

US Treasury to fully unwind debt-ceiling 'extraordinary measures'

- The Treasury Department plans to fully unwind the so-called extraordinary measures it took to stay under the debt ceiling once President Barack Obama signs legislation passed by the Senate on Thursday, a Treasury official said.
The move would once again make available steps the Treasury can use to buy roughly two months of extra time if there is another debt-ceiling impasse, though the Treasury official cautioned that the department doesn't have a precise estimate for how long the measures would last.

Update details:

- The Congress is to concentrate on the upcoming automatic spending cuts, also know as sequestration, which takes effect on March 1st.

Print 22:01, 31 Jan 2013 - Economic commentary - Source: Newswires