What Is a Federal Reserve Note? Is It Backed by Gold? A Federal Reserve note is a currency issued by the Fed that’s backed by gold. These notes are usually worth their face value, although some ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US President Donald Trump’s global trade war has made a mess for the Federal Reserve. Despite an ...

Passed by Congress in 1913, the Federal Reserve Act established a central ... because a bank could only issue as many currency notes as the number of government bonds it held.