( Washington, 18th June 2020 ) The coronary disease epidemic has blocked global supply chains and delayed production lines at many factories. In the United States, there is a shortage of coins in the epidemic. The chairman of the Federal Reserve Powell said that the epidemic has hindered the production of coins and increased demand for cash. At present, the Federal Reserve is working hard to solve the problem.
Some Fed officials said that in the epidemic, many families would rather hold cash, and it is not surprising that the demand for coins and other cash has soared.
The Wall Street Journal reported that a Federal Reserve spokesperson said that since the massive outbreak of the coronary disease in the United States in March, the bank’s coin deposits have fallen by nearly 50% compared with the same period last year.
The Fed stated that the coronary disease epidemic severely hindered the production and distribution of coins. In addition to the continued increase in the demand for coins, it is necessary to ration the coin supply that banks can actually obtain for customers.
The U.S. Mint is responsible for coin production, and the Fed assists in distributing coins to major banks to maintain a stable supply of coins.
Powell said: "Due to the partial shutdown of the economy, the flow of coins in the economy has stopped a little bit. We are very aware of this situation and are working with the mint. We are working with the reserve banks. As the economy restarts, we see the coins start to flow again. ."
**Info & Image are taken online
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