Tag Archives: Federal Reserve System

On This Day In History

15 Aug

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President Richard M. Nixon speaks on the telep...

// Wikipedia

40 years ago, following the advice of Milton Friedman, President Richard Nixon ends the Gold Standard and terminates the Bretton Woods system.

Source: The Economist.

Financial Calendar – Week 26

3 Jul

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Independence Day July 4th "Victory."

// The U.S. National Archives via Flickr.

Monday, July 4th:

Independence Day: All U.S. markets are closed.

Tuesday, July 5th:

10:00 AM ET: Manufacturers’ Shipments, Inventories and Orders for May.

Wednesday, July 6th:

7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index.

10:00 AM: ISM non-Manufacturing Index for June.

Thursday, July 7th:

8:15 AM: The ADP Employment Report for June.

8:30 AM: The initial weekly unemployment claims report will be released.

Friday, July 8th:

8:30 AM: Employment Report for June.

10:00 AM: Monthly Wholesale Trade: Sales and Inventories for May.

3:00 PM: Consumer Credit for May.

Transfer To The Calculated Risk Blog For Charts, Estimates And Details On The Schedule For Week Of July 3rd.

$1 Billion That Nobody Wants

28 Jun

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Coins before Euro - European Coins In Circulation

//Wikipedia

From NPR’s Planet Money:

«Politicians in Washington hardly let a few minutes go by without mentioning how broke the government is. So, it’s a little surprising that they’ve created a stash of more than $1 billion that almost no one wants.

Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

And even though the neglected mountain of money recently grew past the $1 billion mark, the U.S. Mint will keep making more and more of the coins under a congressional mandate.»

Read The Stories Here And Here.

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