Word of the Day

: March 18, 2021

fiscal

adjective FISS-kul

What It Means

1 : of or relating to taxation, public revenues, or public debt

2 : of or relating to financial matters

fiscal in Context

"Last year proved enormously successful for many of the largest names in US finance, as volatility and then unprecedented fiscal and monetary support in the engine room of global finance kept bankers and traders busier than at any time since the financial crisis." — Alex Newman, Investors' Chronicle, 8 Feb. 2021

"Stocks head into the week ahead with a tailwind, as investors focus on a hefty fiscal stimulus package and the solid earnings season against a backdrop of rising interest rates." — Patti Domm, CNBC, 5 Feb. 2021

Did You Know?

Fiscal derives from the Latin noun fiscus, meaning "basket" or "treasury." In ancient Rome, fiscus was the term for the treasury controlled by the emperor, where the money was literally stored in baskets and was collected primarily in the form of revenue from the provinces. Fiscus also gave English confiscate, which is most familiar as a verb meaning "to seize by or as if by authority," but it can additionally refer to the forfeiting of private property to public use. Today, we often encounter fiscal in "fiscal year," a 12-month accounting period not necessarily coinciding with the calendar year.