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An exchange rate is essentially the price of one country's currency in terms of another country's currency.

Fiat currency is legal tender whose value is backed by the government that issued it, rather than a physical commodity like gold or silver.

The gold standard is a monetary system in which a country's currency has a value directly linked to gold.

The Federal Reserve is the central bank of the United States.

A Central Bank is the institution responsible for overseeing the monetary system of a country or group of countries.

A depression is a prolonged and severe economic downturn characterized by a decline in economic activity and widespread unemployment.

Gross Domestic Product is an analytic tool to measure how well a country's economy is performing.

Monetary policy guides the flow of money and influences interest rates to achieve specific economic goals.

Fiscal Policy is the government's plan for managing the economy through government spending, taxation, and borrowing.

Consumer Price Index tracks the average change over time in the prices paid by urban consumers for a basket of goods and services.

A recession is a significant decline in economic activity that lasts for months or even years.

Deflation is a decrease in the general price level of goods and services. It's the opposite of inflation.

Inflation is the slow and steady rise in the prices of goods and services over time. It's the value of your money decreasing.

A bear market refers to a period when stock prices are falling, typically by 20% or more from recent highs.

The term 'bull market' is often associated with the stock market, but it can apply to anything that's traded: bonds, real estate, etc.