Wednesday, January 20, 2021

Tag: Demand for Bank Notes in Dollars & Euros Spikes Despite Fears of Covid-19 Contaminated Cash

Demand for Bank Notes in Dollars & Euros Spikes Despite Fears of Covid-19 Contaminated Cash

by Nick Corbishley, Wolf Street:

A curious phenomenon.

In the United States, as coronavirus concerns grew and state after state went into lockdown, and as consumption plunged and unemployment exploded at a previously unimaginable rate, the amount of physical dollars in circulation spiked to $1.89 trillion, as of the Federal Reserve’s balance sheet on April 16, having jumped 9.1% compared to a year earlier.