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Fidelity Sells Short-Term U.S. Government Debt

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Fidelity Sells Short-Term U.S. Government Debt

Business

Fidelity Sells Short-Term U.S. Government Debt

Fidelity Sells Short-Term U.S. Government Debt

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  • <iframe src="https://www.npr.org/player/embed/231248992/231248987" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Fidelity Investments has sold all of its short-term U.S. government debt. That limits losses for the country's largest manager of money market mutual funds should the U.S. Treasury run out of money on Oct. 17.

STEVE INSKEEP, HOST:

NPR's business news starts with worry about American debt.

(SOUNDBITE OF MUSIC)

INSKEEP: Fidelity Investments has sold all of its short-term U.S. government debt. That limits losses for the country's largest manager of money market funds in case the U.S. Treasury run out of money on Oct. 17th, and Congress does not do something about the federal debt limit.

Fidelity's president said this move was precautionary.

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