America's penny crisis: How Trump's cost-cutting plan has sparked nationwide cash crunch and is hurting banks and retailers
- Posted on November 1, 2025
- By Business News Today
- 8 Views
America's penny crisis: How Trump's cost-cutting plan has sparked nationwide cash crunch and is hurting banks and retailers
The US is experiencing a severe penny shortage after President Trump's decision to halt production, leading businesses to round cash sales. Banks cannot obtain new pennies from the Federal Reserve, exacerbating the problem as the holiday shopping season approaches. This abrupt end to penny minting has created logistical issues and potential legal challenges for retailers.