By Tom Ozimek American consumers have grown more pessimistic as inflation fears surged to a 22-year high, flashing a warning sign for the U.S. economy. The University of Michigan’s closely watched consumer sentiment gauge fell by 4 percentage points in November, to a reading of 61.3 percent. The drop marks the fourth consecutive month of declines in […]
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.
