U.S. Dollar Purchasing Power Down About 97% Since Fed’s Founding
JH Kim
Summary
- An analysis found that the U.S. dollar’s purchasing power has fallen about 97% since the Federal Reserve was established.
- River said the purchasing power of $1 in 1913 has shrunk to about 3 cents today.
- The figure shows the change in the dollar’s purchasing power due to cumulative inflation from 1913 to the present.
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An analysis shows the purchasing power of the U.S. dollar has fallen about 97% since the Federal Reserve was established. In other words, $1 in 1913 has the purchasing power of about 3 cents today.
River, a Bitcoin financial services firm, said on October 27 that the dollar’s purchasing power has declined about 97% since the Fed’s founding in 1913.
The firm said the amount of goods and services that $1 could buy in 1913 is now equivalent to what about 3 cents can buy.
The figure reflects the change in the dollar’s purchasing power caused by cumulative inflation from 1913 to the present.
JH Kim
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