Treasury Secretary Steven Mnuchin said Tuesday that he will extend a debt issuance suspension period “into February” in order to be able to keep using extraordinary measures that allow the U.S. government to stay below the debt ceiling. The suspension period had been scheduled to expire on Jan. 31 but Congress has not yet acted to raise the debt limit. Mnuchin did not give a specific date for the end of the suspension period. In testimony to the Senate Banking Committee, Mnuchin urged Congress to act “as soon as possible” to raise the debt limit. Lou Crandall, chief economist at Wrightson ICAP, said he thinks Congress must act by early March to allow the Treasury to continue to borrow.
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