If you don’t have change jingling around in your pockets right now, some experts are saying you can blame the coronavirus pandemic.
Federal Reserve Chair Jerome Powell has said the COVID-19 outbreak has led to a coin shortage, USA Today reported.
“With the partial closure of the economy, the flow of funds through the economy has stopped. We are working with the Mint and the Reserve Banks and as the economy re-opens we are starting to see money move around again,” Powell said, according to USA Today.
>>Listen to the full interview below.
Weighing in on the reports, Coinstar CEO Jim Gaherity spoke with WSB Radio's Scott Slade this week.
The Federal Reserve said coin deposits have declined as did the production of coins by the U.S. Mint as it rolled out measures to protect employees.
Also adding to the shortage, businesses encouraging customers to use contactless payments instead of cash to help stop the spread of the virus.
>>Read more here.
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