Treasury, Fed oppose using platinum coin to avoid debt ceiling

By Ian Katz, Updated: Sunday, January 13

Jan. 13 (Bloomberg) -- The U.S. Treasury Department and Federal Reserve oppose the idea of minting platinum coins as a way to avoid the U.S. debt ceiling, according to a statement from Treasury spokesman Anthony Coley.

“Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” Coley said in an e-mailed statement yesterday.

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