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The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.
The monetary policy of the United States is the set of policies which the Federal Reserve follows to achieve its twin objectives of high employment and stable inflation.
In macroeconomics, money supply refers to the total volume of money held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits. Money supply data is recorded and published, usually by the national statistical agency or the central bank of the country. Empirical money supply measures are usually named M1, M2, M3, etc., according to how wide a definition of money they embrace. The precise definitions vary from country to country, in part depending on national financial institutional traditions.
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The economy of the Commonwealth of Virginia is well balanced with diverse sources of income. From the Hampton Roads area to Richmond and down to Lee County in the southwest includes military installations, cattle, tobacco and peanut farming in Southside Virginia. Tomatoes recently surpassed soy as the most profitable crop in Virginia. Tobacco, peanuts and hay are also important agricultural products from the commonwealth. Wineries and vineyards in the Northern Neck and along the Blue Ridge Mountains also have become increasingly popular. Northern Virginia hosts software, communications, consulting, defense contracting, diplomats, and considerable components of the professional government sector. As of the 2000 census, Virginia had the highest number of counties and independent cities (15) in the top 100 wealthiest jurisdictions in the United States based upon median income, in addition, Virginia tied with Colorado as having the most counties (10) in the top 100 based on per capita income. Loudoun and Fairfax counties in Northern Virginia have the highest and second highest median household income, respectively, of all counties in the United States as of 2017.
The United States Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913.
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Thomas MacGillivray Humphrey was an American economist. Until 2005 he was a research advisor and senior economist in the research department of the Federal Reserve Bank of Richmond and editor of the bank's flagship publication, the Economic Quarterly. His publications cover macroeconomics, monetary economics, and the history of economic thought. Mark Blaug called him the "undisputed master" of British classical monetary thought.
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Christopher J. Waller is an American economist who has been a member of the Federal Reserve Board of Governors since 2020. A nominee of then-President Donald Trump, he was confirmed by the Senate in December 2020, to serve through January 2030.
The St. Louis Fed Financial Stress Index (STLFSI) is an index measuring the degree of financial stress in markets published by the Federal Reserve Bank of St. Louis.
The Division of Negro Economics was a division of the US Department of Labor created during World War I in the United States. It was established during Woodrow Wilson's presidency on May 1, 1918. George E. Haynes of the National Urban League was appointed to head it. It ceased as a separate division in 1921 under the Warren Harding administration and became effectively defunct in 1922.
References
- ↑ "What is FRED? | Getting To Know FRED". Federal Reserve Economic Data. Retrieved January 14, 2022.
- ↑ "Everybody Loves FRED: How America Fell for a Data Tool". New York Times. 2024.
- ↑ "ArchivaL Federal Reserve Economic Data - ALFRED - St. Louis Fed". Alfred.stlouisfed.org. Retrieved December 11, 2013.
- ↑ "GeoFRED: Geographic Federal Reserve Economic Data". Geofred.stlouisfed.org. Retrieved December 11, 2013.
- ↑ "Welcome to Cassidi". Cassidi.stlouisfed.org. Retrieved December 11, 2013.
- ↑ "Economic Data Publications, Historical Federal Reserve Archive, FRASER". Fraser.stlouisfed.org. Retrieved December 11, 2013.
- ↑ Federal Depository Library Program [ permanent dead link ] partnerships. Accessed March 14, 2013.
- ↑ FRASER information and collaboration. Accessed March 13, 2013.
- ↑ IDEAS. Accessed March 1, 2018.
- ↑ "RePEc". RePEc. Retrieved December 11, 2013.
- ↑ "The Most Amazing Economics Website in the World", Joe Weisenthal, Business Insider, March 23, 2012.