Tales of U.S. Currency: Examining the Trends in Cash Payments

In recent years, the U.S. financial landscape has undergone significant changes. The use of digital payments has increased, driven by advancements in technology, consumer preferences, regulatory support, and the pandemic. In partnership with the financial services industry, we can all support financial inclusion, economic growth, and stability. For the Federal Reserve, cash remains a growth business, and we are continuing to make strategic investments in U.S. currency infrastructure to ensure access in a wide range of cash usage scenarios. Using the latest survey data on cash usage and consumer behavior from the 2024 Diary of Consumer Payment Choice, this session will address why investing in modernization efforts around vault and processing capacity, new banknote design standardization, and advancing a resilient supply chain through whatever the future holds for cash is critical to meeting demand for years to come.