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ECONOMIC REPORT OF THE PRESIDENT: An annual report of the economic performance of the U.S. economy written by the Chairman of the Council of Economic Advisors (CEA). It provides an overview of the nation's economic progress. A goal of the report is to provide the President with objective economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues. The Council of Economic Advisors, the governmental body responsible for the report, was established by the Employment Act of 1946. The Economic Report of the President has been published every year since 1950.
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VAULT CASH Paper bills and metal coins kept in bank vaults or elsewhere in banks (such as teller drawers). Vault cash is used, quite literally, to "cash" checks and otherwise to satisfy currency withdrawal demands of the depositors. Because vault cash is in the possession of banks and not the nonbank public, it is not considered as "money in circulation" and is not part of the official M1 money supply. Vault cash is one of two types of bank assets that are considered reserves and used to satisfy reserve requirements. The other is Federal Reserve deposits.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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JRE
Journal of Regulatory Economics
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