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WSJ Your Money Briefing

How Trump’s Plan to Halt Penny Production Could Impact Consumers

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 3 March 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

President Trump has instructed the U.S. Treasury to halt the minting of new pennies as part of an effort to cut down on what he called wasteful government spending. So how would a world without pennies look? Wall Street Journal reporters Oyin Adedoyin and Joseph Pisani join host Ariana Aspuru to discuss how the move could impact consumers and why one man has been lobbying to save the penny for the past three decades.   Sign up for the WSJ's free Markets A.M. newsletter.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:32.8

Here's your money briefing for Monday, March 3rd.

0:35.9

I'm Mariana Aspuru for the Wall Street Journal.

0:42.9

President Trump has called for a cut down on what he calls wasteful government spending.

0:48.4

On the list? Penes. Last month, he instructed the U.S. Treasury to stop producing new ones. In a post on

0:56.3

truth social, Trump called to, quote, rip the waste out of our great nation's budget, even if it's

1:02.3

a penny at a time. But what does it mean for consumers if the U.S. ditches pennies? Politicians, lawmakers,

1:09.1

and economists have been asking that question for years.

1:12.5

Why do we keep making pennies? Some economists say that it's mainly the inertia of just being used to

1:18.8

pennies. But local business owners also worried that if we were to get rid of pennies, maybe that would

1:24.3

inflate prices or discourage customers who are used to paying for things in cash from spending altogether.

1:30.3

We'll hear from Wall Street Journal reporters Oyen Addoyen and Joseph Pisani about how a world without pennies would look.

1:37.0

And why one man has been lobbying to save them for the past three decades.

1:41.5

That's after the break.

1:57.4

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