ALERT Federal Reserve Runs out Money coin shortage Kroger Walmart American coins Digital Cashless?

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Find out why stores across America are running out of money and why this currency shortage could be costing you money with every transaction.

Where are our American Coins !
We’ve seen nationwide shortages of a number of different items.

From toilet paper to ramen, some things have been more difficult to find at certain times for a number of different reasons.

But a recent outage of coins is making it difficult for supermarkets and retail stores to provide customers with accurate change for their purchases.

Kroger, which is one of the biggest supermarket chains in the country, recently announced that it will not be able to offer change in coins to its customers.

If paying with bills, 2 options are available for your change.

If you have a Kroger card, your change can be added to the loyalty card to be spent on your next purchase.

Without a Kroger card, your change will be rounded up to the nearest dollar and donated to charity.

So lets say that you purchase some chips, dip, eggs and a candy bar for $7.13 and pay with a $10

With no Kroger card, you’ll get back just $2 instead of your $2.87!

Other massive retailers across America are asking customers to pay with exact change or credit/debit cards due to the national coin shortage.

Walmart, Starbucks, CVS and Wawa have started to tell customers to pay with cards or exact change, and 7-Eleven is even offering some customers a free Slurpee if they trade $5 in change for $5 in cash!

So why do we currently have a shortage of coins?

Well, we don’t exactly have a coin shortage, but rather coins are not circulating properly in the economy.

To combat this problem, the Federal Reserve has created the “U.S. Coin Task Force.”

Starting this month, this new Fed initiative will: “work together to identify, implement and promote actions to reduce the disruptions to normal coin circulation.”

The Fed explained: “With establishments like retail shops, bank branches, transit authorities and laundromats closed, the typical places where coin centers our society have slowed or even stopped the normal circulation of coin.”

There are still plenty of coins out there, people just aren’t using them how they typically do.

Financial analyst Ted Rossman explains: “People are spending less in general and they’re especially spending less with coins and bills because they think they might carry germs.”

Rossman continued: “It’s not that there aren’t enough coins in the country anymore,“It’s just that they’re not in the right place. It’s a supply chain thing.”

So if you want to do your part to help the national coin shortage, the answer is simple.

Go out there and pay in exact change or visit your local bank and exchange your coin jar for bills or credit in your account.

As businesses continue to close and coins remain out of circulation, we’ll see if this Fed task force or the keepers of those 5 gallon jugs filled to the brim with nickels and dimes can pump some much needed coinage back into the economy.

Have you experienced a coin shortage at your local stores? Let me know in the comments below!

Source: https://www.cnbc.com/2020/07/17/why-you-cant-get-change-at-the-grocery-store-coin-shortage.html

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