The United States is a large, diversified economy with deep financial markets and a floating dollar that serves as a major global reserve currency. Macro conversations usually organise around growth (BEA GDP), inflation (CPI and PCE), and labour markets (BLS employment and unemployment), with the Federal Reserve setting the federal funds rate target.
Where to look up numbers
- FRED — chartable series for GDP, CPI, unemployment, federal funds rate, and more.
- Bureau of Economic Analysis (BEA) — GDP and national accounts.
- Bureau of Labor Statistics (BLS) — CPI, employment, wages.
- Federal Reserve — policy statements and monetary data.
- World Bank — United States — cross-country comparable indicators.
Institutions at a glance
| Area | Primary institution |
|---|---|
| Monetary policy | Federal Reserve System |
| National accounts | BEA |
| Prices & labour statistics | BLS |
| Fiscal policy | Congress & Executive (Treasury) |
Long-run US inflation discussions often reference an average near 2% in quiet decades and much higher prints in the 1970s–early 1980s. For any specific year or month, open the CPI series on FRED CPIAUCSL rather than relying on memory or this page.
Themes for readers
US transmission of monetary policy often runs through financial conditions and longer-term fixed-rate mortgages. Dual-mandate language (maximum employment and price stability) shapes how the Fed explains trade-offs. Fiscal debates turn on deficits, debt held by the public, and automatic stabilisers.
Compare with the United Kingdom snapshot, or return to topics.