United States monetary system
E553260
The United States monetary system is the national framework for issuing, regulating, and managing the country’s currency, including its historical transition from bimetallism to a primarily gold- and later fiat-based standard.
Statements (73)
| Predicate | Object |
|---|---|
| instanceOf | monetary system ⓘ |
| abandonedGoldConvertibilityDomestic | 1933 ⓘ |
| abandonedGoldConvertibilityInternational | 1971 ⓘ |
| backingType | full faith and credit of the United States government ⓘ |
| centralBank | Federal Reserve System NERFINISHED ⓘ |
| country | United States of America ⓘ |
| currencyCode | USD NERFINISHED ⓘ |
| currentFeature |
fiat currency not redeemable for commodities
ⓘ
floating exchange rate ⓘ fractional reserve banking ⓘ |
| currentStandard | fiat money system ⓘ |
| denominationSystem | decimal ⓘ |
| historicalCrisis |
2007–2009 financial crisis
NERFINISHED
ⓘ
Great Depression banking crisis NERFINISHED ⓘ Savings and loan crisis NERFINISHED ⓘ |
| historicalFeature |
Bretton Woods fixed exchange rate system
NERFINISHED
ⓘ
bimetallic standard with fixed gold–silver ratio ⓘ gold coinage ⓘ silver coinage ⓘ |
| historicalStandard |
bimetallism
ⓘ
gold standard ⓘ |
| includesInstitutionType |
commercial banks
ⓘ
credit unions ⓘ primary dealers ⓘ savings institutions ⓘ |
| includesPaymentInstrument |
checks
ⓘ
coins ⓘ credit cards ⓘ debit cards ⓘ electronic transfers ⓘ paper currency ⓘ |
| includesPaymentSystem |
Automated Clearing House
NERFINISHED
ⓘ
Fedwire Funds Service NERFINISHED ⓘ check clearing system ⓘ |
| introducedCurrency | United States dollar NERFINISHED ⓘ |
| introducedCurrencyYear | 1792 ⓘ |
| legalBasis |
Bank Secrecy Act of 1970
NERFINISHED
ⓘ
Bretton Woods Agreements Act of 1945 NERFINISHED ⓘ Coinage Act of 1792 NERFINISHED ⓘ Coinage Act of 1965 NERFINISHED ⓘ Dodd–Frank Wall Street Reform and Consumer Protection Act NERFINISHED ⓘ Federal Reserve Act of 1913 NERFINISHED ⓘ Gold Reserve Act of 1934 NERFINISHED ⓘ United States Constitution Article I Section 8 NERFINISHED ⓘ |
| legalTender |
Federal Reserve Note
NERFINISHED
ⓘ
United States coinage ⓘ |
| monetaryAuthority |
Board of Governors of the Federal Reserve System
NERFINISHED
ⓘ
Federal Open Market Committee NERFINISHED ⓘ |
| monetaryPolicyGoals |
maximum employment
ⓘ
moderate long-term interest rates ⓘ price stability ⓘ |
| monetaryPolicyTool |
discount rate
ⓘ
forward guidance ⓘ interest on reserve balances ⓘ reserve requirements ⓘ |
| moneySupplyMeasures |
M0
ⓘ
M1 ⓘ M2 ⓘ M3 (discontinued official publication) NERFINISHED ⓘ |
| primaryMonetaryPolicyTool | open market operations ⓘ |
| regulator |
Federal Reserve System
NERFINISHED
ⓘ
United States Congress NERFINISHED ⓘ United States Department of the Treasury NERFINISHED ⓘ |
| subunit | cent ⓘ |
| subunitValue | 1 dollar = 100 cents ⓘ |
| supervisoryAgency |
Consumer Financial Protection Bureau
NERFINISHED
ⓘ
Federal Deposit Insurance Corporation NERFINISHED ⓘ National Credit Union Administration NERFINISHED ⓘ Office of the Comptroller of the Currency NERFINISHED ⓘ |
| treasuryAgency |
Bureau of Engraving and Printing
NERFINISHED
ⓘ
United States Mint NERFINISHED ⓘ |
| unitOfAccount | dollar ⓘ |
| usesCurrency |
US dollar
ⓘ
surface form:
United States dollar
|
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.