Give us some perspective on recent oil prices. Oil prices reached their highs for 2014 on June 19th, as the spot price for Brent crude topped out at $115.06 per barrel. Since then, oil has struggled, declining 75.56%, to a low of $26.21 per barrel on February, 11 2016.
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The Federal Reserve (FED) was formed in 1913 by Congress as an independent government agency, with the intention that it would be free from political pressures.