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FEDERAL RESERVE SYSTEM: THE central bank of the United States. It includes a Board of Governors, 12 District Banks, 25 Branch Banks, and assorted committees. The most important of these committees is the Federal Open Market Committee, which directs monetary policy. The Fed (as many like to call it) was established in 1913 and modified significantly during the Great Depression of the 1930s. It's duties are to maintain the stability of the banking system, regulate banks, and oversee the nation's money supply.
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LAGGING ECONOMIC INDICATORS Seven economic statistics that tend to move up or down a few months AFTER business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months after they occur. Lagging economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and leading economic indicators.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at an auction looking to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for slow moving vehicles with darkened windows.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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APEC
Asia-Pacific Economic Co-operation
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