Infotrak

The reaction to COVID-19 shutdowns has led to an unexpected coin shortage nationwide, causing some businesses to notify customers that they have no change to give, or to encourage only electronic transactions. Prof. Daniel Soques, Assistant Professor of Economics at the University of North Carolina Wilmington, explains the factors behind the shortage and what steps are being taken by the Federal Reserve to address it. He also says that moving away from physical cash and coins disproportionately affects low income and homeless people.