Inflation measures price increases and erodes purchasing power worldwide. High inflation isn't universal, Venezuela leads with 400% rate. Japan and Switzerland have lowest rates at 2.7% and 2.4% respectively
World economy expected to double by 2050, faster than population growth. China will become world's largest economy by 2050, surpassing US in 14 years. India projected to become third largest economy by 2027. US expected to become second largest by 2037
United States leads with 8,133 tons of gold reserves. Germany follows with 3,359 tons, more than double US's. Italy and France have 2,452 and 2,436 tons respectively. Russia, China, Switzerland, Japan, India, and Netherlands complete top ten
Term popularized by Congressman McKinney in 1984. Large financial institutions' failure would harm economic system. Banks with interconnectedness and critical functions are considered TBTF
Total world GDP reached $109.02 trillion in 2024. World economy consists of 193 countries. Nominal world GDP grew 3.6% in 2018
GDP measures total value of final goods and services produced by a region. Nominal GDP estimates use current market prices for more accurate representation. United States leads with 27,974 billion USD GDP as of April 2024