In monetary economics, this is the profit an issuing authority earns from putting money into circulation: the gap between a coin or note's face value and the cost of producing and distributing it.
SEIGNIORAGE 11 letters
Five finance words.
One day at a time.
Guess Macro is a daily word game about markets, money and the language they are written in. Read the clue, guess the word, and let the colours tell you how close you were.
Free to play. An account only saves your scores and puts you on the leaderboard.
How a round works
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Read the clue
Every question is a definition, a piece of market history, or something that happened in the markets that week.
A market structure where a small number of large firms dominate the industry, often leading to limited competition and high barriers to entry for new participants.
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Guess a word
The answer is always a single word, and the row of boxes tells you how many letters it has. You get five attempts. Here a player has opened with liquidity:
LIQUIDITY -
Let the colours narrow it down
After each guess every letter is marked, and the same marks appear on the keyboard so you stop re-using dead letters.
- A right letter, right position
- A in the word, wrong position
- A not in the word
Each question is worth up to 100 points, so a clean day is 500. A wrong guess costs 10 points, and revealing a letter costs more the longer the word is. The clock starts when you press Begin.
A round, played out
Here is a real question from August 20, 2026, solved in two guesses.
The new Federal Reserve chair, who took over in 2026, rejected the word "pause" to describe the July 28-29 hold and has repeatedly called the three dissents at that meeting a "family fight." What is this chair's surname?
C
H
A
I
R
A reasonable opening guess. Three letters are in the answer but none of them are where you put them, and C and I are out of the alphabet for good.
W
A
R
S
H
Move the A, R and H, and the Fed chair who kept saying "family fight" falls out: Warsh.
What the questions cover
Central banking and interest rates, currencies and commodities, corporate deals and accounting, market history and the people who move markets. Some are straight definitions. Others ask you to connect a headline to the term behind it.
In acquisition accounting, this intangible asset is recorded for the excess of the purchase price over the fair value of the identifiable net assets acquired, and is never amortised under US GAAP.
GOODWILL 8 letters
When funding costs spike and leveraged players must unwind positions rapidly, causing cascading price moves, what is this event called?
DELEVERAGING 12 letters
Every puzzle older than a week is published in full in the archive, and every answer that has appeared in the game is defined in the finance glossary. For longer explanations of the ideas behind the questions, start with Learn.