The Treasury.gov Resource Center says, “Our records do not suggest why certain Presidents and statesmen were chosen for specific denominations.” Is that really so? We look into their likely reasoning in the infographic below.
NerdWallet breaks down which presidents are featured on U.S. currency – including small bills, coins, and rare denominations – and why. Enjoy these Presidents’ Day 2013 facts from the NerdWallet team:
Monetary Policy: Why Currency Matters
Not only do consumers like you and me use it to buy and sell goods, but at a higher level the government uses it to moderate the economy through monetary policy.
Since fall of 2012, the Fed has been engaging in a large round of quantitative easing (nicknamed QE3) to keep interest rates low and help the economy recover, it says. This means lots and lots of money printing is in the works, which will likely increase inflation but is aimed keeping both the unemployment rate and spurring further growth.
Learn more about currency and monetary policy:
- What is QE3 and how does it work – will it hurt investments?
- NerdWallet also recently explored whether we are in a currency war with China and other countries.