Rolls of US pennies are seen in this photo illustration in Washington, DC, February 10, 2025. Saul Loeb | Afp | Getty Images
Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
It’s been just over three weeks into the second term of U.S. President Donald Trump, and the flurry of announcements from the White House shows no sign of abating. The administration is set to pause enforcement of the Foreign Corrupt Practices Act, President Trump has removed the director of the government ethics office, and (gasp!) even the humble penny is not spared, with Trump ordering a halt to penny production. For investors, the dismantling of ethics regulations would definitely raise questions. How would U.S. companies now conduct themselves, especially in markets where corruption is more rampant? Will more brown envelopes be slipped under tables, all in the name of retaining or winning business? Will the rule of law be superseded by the amount of business brought in by a company?
There are no straight answers to these questions, but expect to hear experts and economists’ two cents in the coming days. Well, at least when the penny is still around. — Lim Hui Jie
What you need to know today
And finally…
Pennies are displayed at Glenview Coin & Collectibles July 6, 2006 in Glenview, Illinois. Tim Boyle | Getty Images News | Getty Images
What the end of the penny means for the economy, your piggy bank, and the way America prices items President Donald Trump has ordered the Treasury to stop minting new pennies, which could have an impact on prices, cash consumers, and those coins still under your couch cushions. Experts predict a mild inflationary impact, as more prices are rounded to the nearest five cents. People at the bottom of the economic ladder will probably feel any penny pinch the most, as they are either unbanked or unable to access debit or credit cards or a digital wallet. » Read more
CNBC Daily Open: Trump’s cuts continue sweeping through the US government, and even the penny is not spared
