The United States’ economy is a highly developed market economy. It has the world’s largest economy in terms of nominal GDP and net worth, and the second-largest in terms of purchasing power parity (PPP) after China. The United States possesses the world’s most technologically advanced and inventive economy. Its companies are at or near the […]
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A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless