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CNN Live At Daybreak
Feds Contemplating Issuing More $2 Bills
Aired June 13, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some business buzz right now. The government is considering reissuing a forgotten money note.
Live to New York and Susan Lisovicz.
What's this about -- Susan?
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: It's about the $2 bill. Remember that -- Carol?
COSTELLO: Yes.
LISOVICZ: It's actually still in circulation, believe it or not, but the Federal Reserve is contemplating printing a new batch of what is by far the least used small note in circulation. That's because the Fed's $2 inventory is running low.
Last time the $2 bill was issued was in 1996, but they actually precede American independence. About 9.5 million notes are currently in the Fed's vault. By comparison, the Fed's inventory of $1 bills stands at 2.37 billion.
No one knows exactly the reason for the dwindling inventory, but some people thinks it's because -- think because people save them rather than spend them.
And, Carol, I have before me a $2 bill.
COSTELLO: Wow!
LISOVICZ: Who's on -- who's on the front?
COSTELLO: I can't tell, it's out of focus. Who is that?
LISOVICZ: OK. Well he wrote the Declaration of Independence. He's the nation's third president.
COSTELLO: Thomas Jefferson.
LISOVICZ: Yes. And on the back...
COSTELLO: Thanks for the big hint.
LISOVICZ: And on the back is the actual signing of the Declaration of Independence.
COSTELLO: The Continental Congress. LISOVICZ: You got it. Very good, you know your history.
COSTELLO: I was scared for a while I wouldn't get that out and then I'd be really embarrassed.
LISOVICZ: I was going to give you -- I was going to give you a lot of hints, including like initials and so on.
COSTELLO: Like the third president.
Quick look at the futures before you have to go.
LISOVICZ: Flat to slightly higher, but of course that can get changed because we're getting some economic data, including hotel prices, as well as consumer confidence. But the rally continues. Yesterday stocks managed small gains, and the Dow now stands very close to 9,200, its closest level in nearly 13 months. Can you say bull?
COSTELLO: I can say bull.
Thank you, Susan, we'll get back to you in the next half hour.
LISOVICZ: My pleasure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired June 13, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for some business buzz right now. The government is considering reissuing a forgotten money note.
Live to New York and Susan Lisovicz.
What's this about -- Susan?
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: It's about the $2 bill. Remember that -- Carol?
COSTELLO: Yes.
LISOVICZ: It's actually still in circulation, believe it or not, but the Federal Reserve is contemplating printing a new batch of what is by far the least used small note in circulation. That's because the Fed's $2 inventory is running low.
Last time the $2 bill was issued was in 1996, but they actually precede American independence. About 9.5 million notes are currently in the Fed's vault. By comparison, the Fed's inventory of $1 bills stands at 2.37 billion.
No one knows exactly the reason for the dwindling inventory, but some people thinks it's because -- think because people save them rather than spend them.
And, Carol, I have before me a $2 bill.
COSTELLO: Wow!
LISOVICZ: Who's on -- who's on the front?
COSTELLO: I can't tell, it's out of focus. Who is that?
LISOVICZ: OK. Well he wrote the Declaration of Independence. He's the nation's third president.
COSTELLO: Thomas Jefferson.
LISOVICZ: Yes. And on the back...
COSTELLO: Thanks for the big hint.
LISOVICZ: And on the back is the actual signing of the Declaration of Independence.
COSTELLO: The Continental Congress. LISOVICZ: You got it. Very good, you know your history.
COSTELLO: I was scared for a while I wouldn't get that out and then I'd be really embarrassed.
LISOVICZ: I was going to give you -- I was going to give you a lot of hints, including like initials and so on.
COSTELLO: Like the third president.
Quick look at the futures before you have to go.
LISOVICZ: Flat to slightly higher, but of course that can get changed because we're getting some economic data, including hotel prices, as well as consumer confidence. But the rally continues. Yesterday stocks managed small gains, and the Dow now stands very close to 9,200, its closest level in nearly 13 months. Can you say bull?
COSTELLO: I can say bull.
Thank you, Susan, we'll get back to you in the next half hour.
LISOVICZ: My pleasure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
