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The comfort of cash in a time of coronavirus
Card payments have gone up, but paper money continues to be a resilient and expensive challenge in the US. Some businesses in America have decided to do away with cash transactions completely, while for others, these still represent up to 20% of their monthly payments. This puzzling behaviour has left the Federal Reserve with a dilemma: in a crisis, what should they do with their money printing infrastructure? Brendan Greeley considers for the Financial Times.
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