How Will Trump’s Decision to Eliminate the Penny Impact Prices? Economists Share Their Insights.
President Donald Trump said he directed the U.S. Treasury Department to stop manufacturing pennies, citing rising costs. “For far too long the United States has minted pennies which literally cost us more than 2 cents,” the president said in a Feb. 9 post on Truth Social, announcing the new policy. “This is so wasteful!” It is true. In its 2024 annual report, the U.S. Mint…
