twostrokenut
Well-Known Member
Federal Reserve ActDefine it
"Official title
An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes."
Elastic Currency
from Economics and Personal Finance Education Resources Glossary(2016)
by Federal Reserve Bank of St. Louis
Currency whose supply can be increased or decreased to meet the demands of the economy, and used by a central bank to provide financial stability and achieve economic goals.