Treasury Secretary Janet Yellen, in a letter on Friday to congressional leaders, said the Treasury would begin using extraordinary measures Jan. 21.

U.S. Treasury Secretary Janet Yellen said that the government will reach its statutory borrowing limit on Tuesday and begin employing "extraordinary measures" to keep from breaching the cap and risking a potential catastrophic default.

The U.S. Treasury Department on Friday imposed sanctions on alleged hacker Yin Kechen and cybersecurity company Sichuan Juxinhe Network Technology Co., accusing both of being involved in a series of hacks against American telecom companies.

The Treasury Department on Friday announced sanctions in connection with a massive Chinese hack of American telecommunications companies and a breach of its own computer network. The sanctions target a Chinese hacker who officials say is affiliated with Beijing's Ministry of State Security and was involved in a cyberintrusion

The State and Treasury Departments say Chinese cybersecurity vendor Sichuan Juxinhe is behind the hacks into numerous US telecommunications companies.