Record Number of $50 Bills Printed in 2022 as Demand for Cash Remains High Post-Pandemic
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A record number of $50 bills were printed in 2022 - over 750 million. This is the highest amount printed in over 40 years.
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The increase in $50 bills was driven by higher demand for cash during the COVID-19 pandemic, as people began hoarding and holding onto more physical currency.
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The Federal Reserve does not print money itself but orders currency from the Bureau of Engraving and Printing based on anticipated demand.
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The $50 bill is an unpopular denomination due to superstitions and perceptions it's unlucky. Many avoid using $50s.
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Demand for cash remains elevated compared to pre-pandemic times, even as daily use of physical currency has declined. Americans are holding onto more cash.