Created in 1913 with the enactment of the Federal Reserve Act, the Federal Reserve (the Fed) is the central banking system of the U.S. The Fed functions as the bank of the U.S. government, overseeing the nation’s financial institutions. As the central bank, the Fed safeguards and manages the U.S. economy and its money supply with its economic and monetary policies, which makes it a very powerful global player. Ben Bernanke is the current chairman of the Federal Reserve.
The Federal Reserve’s reckless monetary policies have distorted financial markets, laying the groundwork for a possible U.S. economic collapse or stock market crash in 2015.At least, that’s the opinion of Republican presidential candidate Rand Paul. In a speech at Morningside College in Sioux City, the Kentucky Senator argued. Read More
Wall Street opened slightly higher on Thursday, July 2nd, as job growth slowed down in June, lowering the probability that the Federal Reserve will raise the interest rate this year. European stock markets traded lower and the mood was one of caution with Greece set to vote on a referendum on Sunday.Job growth slows down in the summer. Read More
Traders received another piece of disappointing economic data, suggesting the U.S. economic outlook isn’t as rosy as many economists believe.On Tuesday, June 30th, the Institute for Supply Management (ISM) reported Midwest manufacturing activity declined last month. In May, the Chicago Purchasing Manager Index (PMI) climbed. Read More
A stock market crash could usher in a U.S. economic collapse, rewriting the rule book for the entire monetary system.At least, that’s the opinion of former Congressman Ron Paul. During an interview on CNBC last week, the libertarian commentator predicted a huge crash in the financial system, saying the stock market’s “day of. Read More
Consumer spending recorded its largest increase in nearly six years in May, indicating that the U.S. economy is picking up momentum.Personal spending climbed a seasonally-adjusted 0.9% from a month earlier. The reading measures what consumers spend on everything from cars to clothing. Consumer spending accounts for more than two-thirds. Read More