100 Years Of Fed Monetary Stewardship: U.S. Consumer Purchasing Power Fell From $1,000 In Dec 1913 To $40 Today

The Federal Reserve system was created in December 1913 with the stroke of the pen by then President Woodrow Wilson.

Since that time, consumer purchasing power has fallen from $1,000 in December 1913 to … $40 today.

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Since 2007, the purchasing power of the dollar continues to fall along with average hourly wage growth YoY.

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Thanks a heap, Woody.

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JPMorgan Chase CDO Jamie Dimon says iPhones helps balance out U.S. Income Inequality. 

Let them eat iPhones?

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