(FinancialHealth.net) – It seems that COVID-19 is causing a very odd problem. The US is currently experiencing a coin shortage. As a result, businesses are making some changes in order to cope.
According to reports, some stores including Lowes, 7-Eleven and others are asking customers to pay with exact change.
when it rains it pours pic.twitter.com/jBZ5mOd1VJ
— Tim Alberta (@TimAlberta) June 30, 2020
Federal Reserve Chair Jerome Powell spoke to the House Financial Services on June 11 and explained COVID-19 has disrupted the supply chain. Additionally, US Mint’s production decreased because of the virus. The chairman said the “flow of coins through the economy” has “kind of stopped.”
The shortage is another inconvenience thanks to the coronavirus. At a time when businesses are already struggling to stay afloat, having limited payment options is really unfortunate. Although the Federal Reserve is trying to minimize the impact, some companies are already feeling it.
~Here’s to Your Financial Health!
Copyright 2020, FinancialHealth.net