By Andrew Moran Is the world challenging the U.S. dollar’s dominance? Over the last decade, several nations worldwide, led primarily by Russia and China, have ramped up efforts to kick their dependence on the chief international reserve currency. From diminishing the prevalence of non-dollar transactions to reducing dollar holdings in foreign exchange reserves, states are […]
Tag: Federal Reserve System
The Federal Reserve System is the central banking system of the United States of America. 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.