Economy of New York City bank with a permanent vote on the Federal Open Market Committee and its president is traditionally selected as the Committee's vice chairman. The bank also has the largest gold repository in the world, larger even than Fort Knox. Its vault is 80 feet (25 m) beneath the street and holds $160 billion worth of gold bullion. Silicon Alley, centered in Manhattan, has evolved into a metonym for the sphere encompassing the New York City metropolitan region's high tech enterprises involving the Internet, new media, telecommunications, digital media, software development, biotechnology, game design, and other fields within information technology that are
Concentration of media ownership the defense resources of the company. As FAIR observed, "when correspondents and paid consultants on NBC television praised the performance of U.S. weapons, they were extolling equipment made by GE, the corporation that pays their salaries." Over time the amount of media merging has increased and the number of media outlets has increased. As a result, fewer companies now own more media outlets, increasing the concentration of ownership. In 1983, 90% of US media was controlled by 50 companies; , 90% was controlled by just 6 companies and in 2017 the number was 5. News Corporation was split into two