People searching for a respite from inflation have flooded the Treasury Department phone lines and website to try to buy Series I savings bonds, causing much longer waits than usual. It’s the latest example of outdated government computer systems causing anguish for Americans.
On May 2, the Treasury Department announced that the inflation-protected I bonds will earn 9.62 percent interest at least until the end of October. A day later, TreasuryDirect, the website that people have to use to purchase the bonds, crashed.
“As interest in series I securities has grown and traffic to the TreasuryDirect website and call center has increased, we recently encountered issues that impacted some users’ experience,” a Treasury Department spokesman said in an emailed statement.
The department has shifted staff to manage the higher call volume, the spokesman said.
https://www.washingtonpost.com/business/2022/05/20/i-savings-bonds-treasurydirect-website-crash/
Leave a Reply