Visualizing the Purchasing Power of the U.S. Dollar Over Time
Between 1929-1933, the purchasing power of the dollar actually increased due to deflation and a 31% contraction in money supply before eventually declining again. Fast forward to 1944 and the U.S. dollar, fixed to gold at a rate of $35/oz, became the world’s reserve currency under the Bretton Woods agreement.. Meanwhile, the U.S. increased its money supply in order to finance the deficits of ...
DA: 81 PA: 96 MOZ Rank: 8