Learn More about Lumida ETF
Powered by LumidaWealth.com
Lumida News
  • Home
  • EarningsNEW
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us
No Result
View All Result
Lumida News
  • Home
  • EarningsNEW
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us
No Result
View All Result
Lumida News
No Result
View All Result
  • Lumida Wealth
  • Lumida Ledger
  • LUMIDA ETF
  • About Us
Home News Macro

Trump Orders Halt on Penny Production, Reigniting Cost Debate

by Team Lumida
February 10, 2025
in Macro
Reading Time: 3 mins read
A A
0
Trump Announces 25% Tariffs on Mexico and Canada, Targeting Border Security and Trade

"Donald Trump" by Gage Skidmore is licensed under CC BY-SA 2.0

Share on TelegramShare on TwitterShare on FacebookShare on LinkedinShare on Whatsapp

Key Takeaways:

Powered by lumidawealth.com

  • President Trump instructs the U.S. Treasury to stop producing pennies, citing cost inefficiency.
  • The move revives a longstanding debate about eliminating the penny, with arguments focused on cost savings versus potential price increases.
  • Canada, which stopped producing pennies in 2012, is often cited as an example of successful elimination.
  • The decision could lead to legislative changes to enable merchants to round transactions to the nearest nickel.

What Happened?
President Trump announced that the U.S. Treasury will no longer produce new pennies, arguing that minting the coins is a financial burden. He emphasized the need to eliminate waste, even if it involves small amounts like pennies. This decision comes amid a broader effort by the White House’s Department of Government Efficiency, led by Elon Musk, to cut over$1 billion in federal spending. The penny has been a focal point due to its high production costs, which exceeded its face value for the 18th consecutive year in fiscal 2023.

Why It Matters?
The elimination of the penny reignites a long-standing debate about its economic impact. Proponents argue that stopping production could save taxpayers millions of dollars annually, as the penny costs more to produce than it is worth. Critics, however, warn that removing the penny could lead to price increases for consumers due to rounding up to the nearest nickel. The move also raises practical challenges for businesses, which would need to adapt to a penny-less economy, potentially requiring legislative support to manage transactions.

What’s Next?
The Treasury’s decision to halt penny production will likely prompt Congress to act quickly to address the implications. Legislation may be introduced to allow merchants to round transactions to the nearest five cents, easing the transition for businesses and consumers. Additionally, the administration’s focus on cost-cutting measures, spearheaded by Elon Musk’s DOGE initiative, suggests that other federal programs may come under scrutiny in the future. The success of this move will depend on balancing cost savings with minimizing disruption to the economy.

Source
Previous Post

McDonald’s Sees Surprise Sales Rebound Amid Middle East Recovery

Next Post

Currency Trading Regains Appeal Amid Tariff-Driven Volatility

Recommended For You

U.S. Shutdown Ends, but DHS “Cliff Date” Keeps Policy and Market Risk Alive

by Team Lumida
2 hours ago
White House, Washington DC

Key takeaways Powered by lumidawealth.com Donald Trump signed a stopgap funding deal to end the partial shutdown, after a cross-party standoff tied to immigration enforcement. The bill keeps most...

Read more

U.S.–India Trade Reset Slashes Tariffs as Energy Realignment Becomes the Price of Market Access

by Team Lumida
1 day ago
Trump Pushes for Greenland Acquisition, Exploring Business Deals and Military Presence

Key takeaways Powered by lumidawealth.com The U.S. will lower tariffs on Indian goods to 18%, reversing a punitive structure that had reached as high as 50% in total. India...

Read more

US Manufacturing Keeps Shrinking as Tariffs Fail to Reverse Job Losses

by Team Lumida
1 day ago
a factory filled with lots of orange machines

Key takeaways Powered by lumidawealth.com US manufacturing employment has fallen to its lowest level since the post-pandemic recovery began, despite policy support over multiple administrations. Manufacturers cut jobs for...

Read more

Warsh’s Return Puts the Fed’s $6.6 Trillion Balance Sheet—Not Just Rates—at the Center of Market Risk

by Team Lumida
2 days ago
Warsh’s Return Puts the Fed’s $6.6 Trillion Balance Sheet—Not Just Rates—at the Center of Market Risk

Key takeaways Powered by lumidawealth.com Markets are pivoting from rate expectations to the Fed’s $6.6T balance sheet as Kevin Warsh prepares to take over as chair. Warsh is a...

Read more

Trump Files $10 Billion Lawsuit Against IRS and Treasury Over Leaked Tax Records

by Team Lumida
5 days ago
Trump Suggests $2,000 Tariff-Funded Payouts to Americans

Key takeaways Powered by lumidawealth.com Trump and the Trump Organization sued the IRS and Treasury for at least $10B over a breach that leaked confidential tax records to the...

Read more

Trump Poised to Name Kevin Warsh as Fed Chair, Signaling Potential Shift in US Monetary Policy Direction

by Team Lumida
5 days ago
Tech Titans Pivot: Silicon Valley’s New Alliance in Trump’s Second Term

Key takeaways Powered by lumidawealth.com Trump is expected to nominate Kevin Warsh, a former Fed governor and outspoken central bank critic, to replace Jerome Powell as Fed chair. Warsh...

Read more

Powell Keeps Markets Guessing as Silence Becomes His Last Lever Against Political Pressure

by Team Lumida
6 days ago
Powell’s Pivotal Moment: What to Expect from Jackson Hole

Key takeaways Powered by lumidawealth.com Powell has repeatedly declined to say if he’ll stay on the Fed board after his chair term ends on May 15 His decision affects...

Read more

China’s Power Buildout Surges Past the US Grid, Setting Up a Long-Term Advantage in AI and Industry

by Team Lumida
1 week ago
China’s Financial Overhaul: Xi’s Strategy to Rebalance $9.1 Trillion Debt Crisis

Key takeaways Powered by lumidawealth.com China added 543 GW of new power capacity in 2025, led by 315 GW of solar and 119 GW of wind Total generation added...

Read more

Trump’s Fed Chair Search Hits a Problem: Rate-Cut Loyalty vs Market Credibility

by Team Lumida
1 week ago
Trump’s Fed Chair Search Hits a Problem: Rate-Cut Loyalty vs Market Credibility

Key takeaways Powered by lumidawealth.com Trump has four finalists for Fed chair but doubts any fully match his two-part test: cut rates and retain credibility The core tension is...

Read more

China’s Overproduction Trap Deepens as Deflation, Weak Consumers, and Price Wars Squeeze Growth

by Team Lumida
1 week ago
China’s Bold Economic Moves: What You Need to Know Now

Key takeaways Powered by lumidawealth.com China’s economy is caught in a deflationary loop driven by excess production and weak domestic consumption Corporate profits and margins are at multi-year lows...

Read more
Next Post
close-up photo of monitor displaying graph

Currency Trading Regains Appeal Amid Tariff-Driven Volatility

AI’s Power Play: How Nuclear Energy Fuels Data Centers

France Leverages Nuclear Power to Boost AI Ambitions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

black porsche 911 on road

Continental Shares Climb After Strong Quarter, Outlook Confirmation

October 17, 2025
China’s Financial Overhaul: Xi’s Strategy to Rebalance $9.1 Trillion Debt Crisis

Chinese Local Government Vehicles Set Record in Offshore Yuan Bond Sales Amid Domestic Restrictions

December 19, 2024
Nvidia CEO Reveals Secrets Behind AI Domination Amidst Fierce Competition

Nvidia Signals “Largest-Ever” OpenAI Investment, Deepening the AI Capital Loop

February 2, 2026

Subscribe to Lumida Ledger

Browse by Category

  • Lifestyle
    • Family Office
    • Health and Longevity
    • Next Gen Wealth
    • Trust, Tax, and Estate
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Latest
    • Macro
    • Markets
    • Real Estate
  • Research
    • Trackers
  • Themes
    • Aging & Longevity
    • AI
    • Biotech
    • CRE
    • Cybersecurity
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
    • Software
Facebook Twitter Instagram Youtube TikTok LinkedIn
Lumida News

Premium insights to help you invest beyond the ordinary. Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser

CATEGORIES

  • Aging & Longevity
  • AI
  • Alt Assets
  • Biotech
  • CRE
  • Crypto
  • Cybersecurity
  • Digital Assets
  • Equities
  • Family Office
  • Health and Longevity
  • Latest
  • Legacy Brands
  • Lifestyle
  • Macro
  • Markets
  • News
  • Next Gen Wealth
  • Nuclear Renaissance
  • Private Credit
  • Real Estate
  • Software
  • Themes
  • Trackers
  • Trust, Tax, and Estate

BROWSE BY TAG

AI AI chips AI demand Amazon Apple Artificial Intelligence Banking Bitcoin China Commercial Real Estate CPI Crypto Donald Trump EARNINGS ELON MUSK ETF Ethereum Federal Reserve financial services generative AI Goldman Sachs Google India Inflation Interest Rates Investment Strategy Japan Jerome Powell JPMorgan Markets Meta Microsoft Nasdaq Nvidia OpenAI private equity S&P 500 SEC Semiconductor stock market Tech Stocks tesla Trump Wells Fargo Whale Watch

© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018

No Result
View All Result
  • Home
  • Earnings
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us

© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018