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Product market competition and online e-commerce help constrain money supply growth with low inflation. Key e-commerce retailers such as Amazon, Alibaba, an
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In the modern monetary system, each new CBDC helps anchor public trust in money in support of economic welfare, especially in a cashless society. In our
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Has America become a democratic free land of crumbling infrastructure, galloping income inequality, bitter political polarization, and dysfunctional governa
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The Federal Reserve System conducts monetary policy decisions, interest rate adjustments, and inter-bank payment operations. Peter Conti-Brown (2017)