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
  progress.

• 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.