House Financial Services Committee Ranking Member Maxine Waters (D-CA) and Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) have sent a letter to Treasury Secretary Scott Bessent, Fed Chairman Jerome Powell, and U.S. Mint Acting Director Kristie McNally, urging them to provide immediate guidance about the current penny shortage.

They asked the agencies to produce a plan by December 12 to manage the removal of the penny from circulation. They are also seeking answers to several questions, such as whether the agencies sought comment from banks and others before ending penny production.

Author: sdbrownlow

Student of Design