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Q&A Continues


Q: What does the recent coin shortage tell us?

  • A: The quantity of coins is going up. But circulation kind of stopped because
    banks/stores were closed, customers weren't speding. We've been trying to
    reverse that and restore normal circulation. Working with the US Mint.
    Created a coin task force with all stakeholders. In frequent communication
    with banks. So we think inventories are building up. Mint making coins
    as fast as it can. It's a significant issue. Feel like we're making
Q: Risks of a double-dip recession, recovery stalling?
  • A: Econ activity /employment picked up in May/June and reversed about
    1/3 of job losses from March and April, with consumer spending reversing
    about 1/2 of the drop. Those were stronger than we expected. But then we
    got virus increases starting in mid-June in many states, so that brings us to
    a new point where we need to deal with the economic ramifications of the
    health crisis.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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