Record $37.8 Billion in $50 Bills Printed in 2022 Due to Pandemic Cash Hoarding
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A record $37.8 billion in $50 bills were printed in 2022, the highest amount in over 40 years.
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The increase was driven by the Federal Reserve responding to heightened demand for cash during the COVID-19 pandemic.
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Americans began hoarding more physical cash during the pandemic. Bigger bills like the $50 were preferred.
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The $50 bill is an unpopular denomination, with superstitions and reluctance around its use.
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Cash demand remains elevated compared to pre-pandemic, but 2023 printing of $50s is reverting back to normal lower levels.