Odd Lots How the Fed Distributes Billions of Dollars in Cash
104 snips
Feb 13, 2025 
In this engaging discussion, Amy Alvarado, Vice President of District Cash Operations at the Chicago Fed, unveils the intricate world of cash distribution. She shares how the Federal Reserve manages billions in cash, from the rigorous authentication processes to the high-tech security measures that keep everything in check. Listeners learn about the recycling of shredded currency and the impressive vault operations that ensure liquidity in the economy. Alvarado's insights highlight the essential role of physical cash in a predominantly digital landscape.
AI Snips
Chapters
Transcript
Episode notes
Cash in a Crisis
- Mike Kepler was in a store when their credit card system went down.
- Cash allowed him to quickly purchase items while others waited.
Cash Use Remains High
- While electronic payments increase, cash remains crucial.
- Currency in circulation is surprisingly high, around $4,800 per person.
Money Transfer
- The Chicago Fed processes large amounts of money, a full container of $20 bills containing $8.5 million.
- The transfer area is where money comes in and processing begins.