CASH - Here's Why A Record Number Of $50 Bills Were Printed In 2022 Despite An Overall Decline In Cash Transactions | Benzinga
In response to Americans' increasing preference for physical cash, the U.S. government printed a record number of $50 bills.
What Happened: According to a report by CNN, this move was executed by the Bureau of Engraving and Printing, which produced an astounding 756.09 million new $50 bills in 2022, translating to a total value of approximately $37.8 billion.
This heightened production of cash directly resulted from the increased demand for physical currency in the U.S., the outlet noted. Furthermore, the trend seems to run counter to the declining use of cash for everyday transactions.
Insights from the San Francisco Fed's Diary survey ...