Fiat money refers to a type of currency that holds value because a government declares it as legal tender, rather than being backed by a physical commodity like gold or silver. Most modern economies ...

Fiat money is a currency issued by a government that is backed by the authority and power of that government and its economy rather than a physical commodity. Historically, governments would mint ...

Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting at the Federal Reserve in Washington, DC, on May 7, 2025. Federal Reserve ...