Banks across the U.S. faced a shortage of coins during coronavirus crisis, prompting the Federal reserve to think about the control raspadenie and working with the U.S. mint to increase supply.
With partial closure of the economy due to coronavirus crisis, the use of coins in the economy has virtually stopped, said the Chairman of the governing Board of the Federal reserve system Jerome Powell.
Compounding the situation is the fact that the us mint cut coin production in connection with measures taken to protect their employees.
“We are working with the mint and the reserve Bank, and as soon as the economy opens again, we see how the coins come back into circulation,” said Powell. He made this remark in response to a question of the Congressman from Tennessee John rose, who said that the Bank in its district by the end of the week end of the coin, because the fed has reduced the supply of coins by half. “We all want in the near future to Wake up with headlines like “banks out of money,” the Congressman said.
Powell said he is well aware of this issue and believes that it will be temporary.
the fed said Monday that banks are working with the mint to increase the offer. But while the deficit will not be defeated will be a limited number of penny, nickels, coins of 10 cents and quarters.
