Wednesday, June 30, 2010
Federal Reserve Bank of Boston
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, and was largely a response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. Its duties today, according to official Federal Reserve documentation, fall into four general categories:
Conducting the nation's monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates.
Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system, and protect the credit rights of consumers.
Maintaining stability of the financial system and containing systemic risk that may arise in financial markets.
Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
This trip gave us a great opportunity to know the structure of America better. And thus the trip become very excited and very useful for everybody.
A trip helps me understand the money -- Tim/Zhaobo Wei
As you may probably know, there are about two-third of cheak of dollar are in the oversea economy. And that means lots of countries are using dallor as the native capital to do some exchanges.
When we talk about the economy of the United States, we must think about the Chinese economy. As these two countries are both exange goods and serveices by ecports and imports, many money flow between this two country. But almost the time, China likes win more in the international trade, which lead the U.S. Gov't cry for growth on the velue of RMB.
But for my situation, I have not really understood the real impacts or influences would be if the velue of RMB is increased. So, this is a good topic for me to find out.
One thing that I'd like to point out is the Bank of America is not the native bank of the US, but the bank of Itly and become the bank of America is because of the finacial Aid in a crisis, that is no banks could lend money to the citizens at all exept this bank. At that time the banks saves a lot of people, and peopel may thanks to it and call it the bank of America.
After all, I hope you all could have some communicate with me if you have any comments with the value rise of RMB.
Plans for this week
Friday was a terrible day, but this week could be worse, because in this week we are gonna take the mid-term exam, I'm sure that it would be a busy week.
I really have no words to say, that is, looking forward to the next field trip.
Sunday, June 27, 2010
A visit to the Federal Reserve Bank of Boston
Last Friday, we visited the Federal Reserve Bank of Boston. We got the orange line to downtown and change to red line only one station by subway. Outside the subway station, across the street, a building stood in front of us. Before we got into this building, we must get the security inspection. It is a very modern building with a very huge hall, which has plenty of sofas, and the plants are in the center surrounding to these sofas. After we waited for a moment, we get lifts to get a lecture about the Federal System Bank of Boston. By introducing Federal System Bank in general, I learned a lot.
The speaker divided this lecture into several parts in order to make us clear and more understood. According to the history, I knew it is founded in 1913, was designed by congress. It is a federal system, including a central, governmental agency and twelve regional Federal Reserve Banks, located in major cities throughout the nation such as San Francisco, New York, Chicago. As time went on, of course, exchange rate of currency has been changing. Monetary policy is important to reflect American financial abilities. The intent of congress in shaping the Federal Reserve Act was to keep politics out of monetary policy. Especially, he showed the video to describe the inflation and recession phenomenon.
I really liked this method to tell us the knowledge, making us not feel boring but interesting. I learned some fundamental knowledge about Federal Reserve Bank, after I graduate in finance and insurance major, these knowledge maybe help me apply quickly in the future.
the Federal Reserve Bank of Boston
- This Friday, Kats arranged us to visit the Federal Reserve Bank of Boston. This is a department of the nation’s central bank; it promoted sound growth and financial stability in the nation. It made by the Congress, and the Federal Reserve’s ultimate accountability is to Congress. In general, this is a totally different bank between other banks in Boston. And the Federal Reserve Bank in Boston is only one of 13 branches in the America.
First of all, when we got into the Federal Reserve Bank, the building was very majestic that gave me a very stately feeling. After passing the safe examination system, exactly, the visiting process is a presentation which the staff in the bank introduced the operation workflow and some knowledge about the business about the Federal Reserve Bank of Boston. Because I have never learned about the economics or business before, so I had no idea about the economics. I was still a little confused about the Inflection in my macroeconomics course. After the general introduction of the monetary policy, I knew a lot. Like what the Inflection is, and what the recession is. What’s more, I understand how the government and bank work to prevent and solve this kind of economic problem. I found the most interesting part of the presentation is that the presenter gave us some instances to telling truth from falsehood of money. Some difference between the forged note and the genuine note is the value number. Even the most interesting difference is the different head portraits. Everyone laughed at this. The experience visiting to the Federal Reserve Bank of Boston is very interesting and useful, to be honest, I considered it could be a good resource for me to help my macroeconomics. Fortunately, I did not choose business as my major, because I think it is too complicated system and too difficult to learning after I knew more about the operation workflow.
Federal Reserve Bank in Boston
This Friday we had a trip to the Federal Reserve Bank in Boston. As I knew before, there are 12 Federal Reserve Bank in the U.S.A. Although I didn't been there with my team because the sickness I had, I learned a lot from the Internet after that.
The Bank is commonly called Boston Fed, is responsible for the First District of the Federal Reserve, which covers Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont.
As part of the nation's central bank, the Federal Reserve Bank of Boston promotes sound growth and financial stability in New England and the nation. The Bank contributes to local communities, the region, and the nation through its high-quality research, regulatory oversight, and financial services, and through its commitment to leadership and innovation. (wikipedia)
In addition, I got to used to life in Boston gradually, sometimes I felt myself home when I was walking along the street in Boston. And I like to see all the beautiful sites in Boston. Although I missed a chance to explore Boston, I'm looking forward to more opportunies to know more about the city of Boston!
A visit to the Federal Reserve Bank of Boston
The Federal Reserve System was established in Washington, D.C. in 1913, and twelve reginal Ferderal Reserve Banks, located in major cities throughout the nation. It includs the Federal Reserve Board, The Federal Reserve banks and the Federal Open Market Committee. To my suprise, the central bank of the USA is a 100% private bank. The Federal Reserve Board is the core institution of the system. It is a Federal Agency, consisting of seven members( chairman, vice-chairman and five members) who must nominated by the president and authorized by the Senate.
The Federal Reserve Banks hold the cash reserves of depository institutions and make loans to them. It move currency and coin into and out of circulation, and collect and process millions of checks each day. It supervie and examine commercial bans that are members of the Federal Reserve System for safety and soundness. In general, it has three main role: Monetary Policy, Payment System and Bank Regulation & Supervision.
This Friday we learned a lot about the basic information of the Federal Reserve Bank. We know how it works. The trips like this are worthwhile.
the Federal Reserve System Bank of Boston
Just as usual, we have a trip in Friday. And this time we went to the Federal Reserve System Bank of Boston. I thought we will have a visit of this bank, but actually, we took a lecture.
We all took security check before enter the bank, it seems a little bit serious. And then someone in bank gave us a presentation, which is about history, system and something else about the Federal Reserve System Bank. And it leasted for one hour.
We learned lots of basic information about this bank from the presentation, such as this bank only issue money,but not print money, and it is independent within government. And threr are three parts which are Monetary policy, Payment System, Bank requlation and supervision. He also told us something about inflation. In deed, it was more like an economy lesson.
It was not very interesting but useful. I leared a lot about the federal reserve system from this trip.
bank
A Visit to the Federal Reserve Bank of Boston~
We took subway to go to there. I have no idea what the Federal Reserve Bank is. There’s no Federal Reserve Bank in China. When I didn’t arrived here, I thought this bank maybe like the bank of America where is for consumers to deposit etc. It was totally different with the commercial bank. We must pass through the safety inspection to ensure we were not taken danger with us.
We have watched a short video about the Federal Reserve Bank and a presentation introducing this bank. I known that the Federal Reserve Bank is not for print money, is only for issue. The bank of print money is in Washington DC.
From today’s visit of the Federal Reserve Bank, I feel a little clear about this bank’s importance and how bank operates.
Saturday, June 26, 2010
Federal Reserve Bank
Bus Terminal is being side the Bank
A gentle man did a presentation for us to introduce how the bank work for the money?and so on. I think it acts the same role as the People's bank of China. The most interesting thing is there are 7 different president's head pictures on the different value of money. For example, Linkin is on 2 dollars, Jerfferson in on 5 dollars.
In addition, after visiting, I walked to Chinatown alone for buying cherries!!!I love it !!!! ,and it is good experience to walk in the street in Boston, because it can help me to find a place of myself in Boston( like feel at home), and I konw where bus termianl is.
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Visited the Federal Reserve Bank of Boston
Federal Reserve Bank of Boston
Name: John Zhang
USPP-Exploring America
Jun 26, 2010
Today, we have been to Federal Reserve Bank of Boston that is bank of bank belong to the Federal Reserve Board in American, and this bank created in 1913.
The principal of Federal Reserve Board is very kind for us, he prepared a presentation what show the base information of Federal Reserve Bank. For instance, we have learnt most of bank in America is private bank,and it is not controled by government. Besides, he introdeced some information about money policy, payment systerm and bank regulation and supervision;futhermore, we also learnt some skill about how to distinguish whether our dollar is real or not.
All in all, Federal Reserve Bank of Boston provid some detail information about development of Federal Reserve Board and way of discriminate American dollar.
Wednesday, June 23, 2010
Freedom Trail......King.Jin
Tuesday, June 22, 2010
Freedom Trail
The historic sites which I need to introduce for my classmates is called The Boston Massacre, we can see the picture below.
The Boston Massacre is an big event in the United States history. In 1770, tensions were high between Bostonians and Redcoats send to Boston in the wake of the Stamp Act riot. The Bostonians could not put up with the domination of the British, so they began to tiot, but I think they were sdupid bucause the British military had guns but they didn't; the Brirish military could kill people but they couldn't, so obviously, Bostonians were lose, finally three civilans were killed at the scene of the shooting, eleven were injured, and two died after the incident. The funny thing is that there were just five people died in the incident but it were called Massacre.
We also visited some other sites during the Freedom Trail, I think it's a memorable trip because I had compreheaded more Boston history and culture through this trip, I loved it!
Monday, June 21, 2010
Come on Get higher
However,the monument was built to momerorate the battle of Bunker hill in 1775,which is the frist conficlt between Bristish Army and Particts forces in revolution war. This Monument shows the rich history in Boston,especially at the field of freedom and independent.
Freedom Trail
It was also a very exciting trip last Friday; we have visited many gorgeous buildings including the Boston common, Park Street Church, Granary Burying Ground, edc. We gave presentations in these places and it was really helpful to understand more about Boston and even American culture.
We took subways to downtown crossing; it’s really a modern place, it was really a tough time walking for almost 2 hours, the sunlight was very strong and I was in black, what a disaster it was. We walked for almost 2 miles; water became an essential thing that everyone should keep one. I gave my presentation in front of Boston Latin School, scenery here is fantastic, this school is almost the earliest school in the country, it might seems so old but it is still beautiful until now. Presentations during this trip were very helpful and impressive, after everyone’s presentation, we’ve learned a lot about the place where we had gone. By this trip, I felt a totally different Boston, before this trip, I just simply thought that Boston was made of passion cause it has the best basketball team- Celtics and best baseball team-Red Sox. However, after this trip, I realized that Boston is also the place where it has a long and colorful culture. I was shocked by these architectures.
In conclusion, it was really exciting and impressive to see these architectures and I have learned much more about Boston, I wish I can have second opportunity to visit these beautiful again.
Sunday, June 20, 2010
Freedom Trail
Freedom Trail---Vivi,Li
The starting point of Freedom Trail is Boston Common and also is my introduce site. Boston Common established in 1643, and it is the oldest park in this country. The park is almost 50 acres. The Boston Common was a place for celebration as well.
The Freedom Trail
Paul Revere's House
The Old South Meeting House was bulit in 1729 as a Puritan meeting house. Old South Meeting House was the stage for some og the most dramatic events leading up to the American Revolution. The Old South Meeting House locate in the Downtown crossing area of Boston, Massachusetts, gained fame as the organizing point for the Boston Tea party on December 16th,1773.Today, the Old South Meeting House is a museum where visitors can view the reenactments of the Boston Tea Party debates.
And I took some photoes in the following.
King’s Chapel and King’s Chapel Burying Ground
Boston Latin School
The Freedom Trail on Friday
Copp's Hill was named after a shoemaker William Copp who once owned the land. Copp's Hill is a burying ground which means funeral garden. It is the last resting place of the people who lived in the North End with different status and occupations.
It is located on a hill where was a windmill stood.The cemetery's boundaries were extended several times and it is Boston's largest colonial burying ground and the second oldest burying ground. It was founded by the town of Boston in 1695. There are thousands of graves and 272 tombs. Because of its height, the British used the hill to train artilery on Charleston during the Revolutionary War.
After finishing this trip, I know more about American, especially about Boston. It was a long-distance trip; however, it was worthwhile. I hope we could have more trips like this to help us have a better understanding about America.
The Freedom Trail
This Friday we experienced very interesting freedom trail which everyone chose one place or building to introduced. All places and buildings are nearby the downtown crossing. There are almost 12 beauty spots and the most impressive one is the Park St. Church, not only because it is my choice for presentation.
Before I introduced the Park St. Church on Friday, I got here once two weeks ago. I entered the church but not visit the church carefully, and left hurriedly. So I did not know lots of history or information about the church. When I chose the place I wanted to introduce, I chose the Park St. Church because I wanted know more about it. The Park Street Church is one of the most famous buildings in Boston, and every visitor should go there. It built in 1809 and still used today, maybe it is very young church in America, but I interested in its architect but not the history. The designer called Peter; he is the architect of Yale University. How I envy him.
And there English class for everyone. You can take your passport and pass a very easy examination; in addition, you can enter the English class. It’s for Free! Most students are Chinese or Japanese, you can not only make new friends in there, and also, students can learn from Bible. How interesting it is!
Of course, that was real tired day; I can’t walk any more after the trail. But I think it was a invaluable experience because we used 3 hours to visit some very famous places in Boston, and presented by ourselves.
Freedom trail
The Freedom Trail
During this trip, I really got a lot of knowledge even though I did not feel well on that day. We visited different places and at each place, a student comes up to present a presentation to other students for showing the information about this place. It is really a excellent experience for us to discover the knowledge and the origin of the culture of the United States.
Since I did not feel very well that day, when I finished my presentation, I came back to school alone, it is really a pity for me that can not go to the places left with our classmates. I really enjoyed it very much.
Saturday, June 19, 2010
Freedom Trail - Tim/Zhaobo Wei
Picture is coming from the www.thefreedomtrail.org
The freedom trail
Wednesday, June 16, 2010
The Blog of the journey to JFK
In the museum, the exhibition that excited me the most is the space suit of the person that is the first human land on the moon. It is really amazing that I can really see it in the museum, and there are also a lot of stamps that in order to memories these people during that time. Among this trip, I took a lot of beautiful picture with my friends and my teachers. Once more, this is really an exciting trip in the USA.
At the same time when we pass through the museum, I also noticed that there are some computers in the last few gallery of the museum. I took one of them to look at, it is the website of the museum and you can easily to see any of the exhibition in this website; it means that everyone can stay at home and enjoy the beautiful journey to the museum of JFK. It is quite amazing.
This Sunday is a very good, happy, excited day and it will let me memories the museum of JFK for a long time.
Feild Trip to JFK Presidential Liberary and museum
Patrick, Red Sox
June 16
Exploring America
Last Friday, I was honor to have an opportunity to visit a very famous museum in Boston, the John F. Kennedy Presidential Library Museum. We got there in the morning, by taking subway and bus, and we were all very exciting about this.
The John F. Kennedy Presidential Library and Museum is the Presidential Library and museum of the 35th President of the United State, John F. Kennedy. Truth be told, when I arrived the place the first feeling is beautiful. Because the museum is located next to the beach, I can feel the wind flowing from the other side of the sea.
Got into the museum, I was very impressed by the videos which were very imformative - I particularly liked the Cuban Missile Crisis one, as it gave a very real sense of what was at stake at the time. I also loved the Jackie room and seeing a few of her gowns. I only wish there were more about her! I found the Mental Retardation section a little small and lacking, especially given the legacy of the Special Olympics.
We also snapped some great photo in this huge museum. Cute gift shop at the end, great gifts but expensive.
So this is our amazing trip for visiting the JFK museum, it must be a memorable trip.
Tuesday, June 15, 2010
Trip to the JFK Lib.
Exploring America Field Trip2 Blog
Look around the John F. Kennedy Presidential Liberary Museum
Today, this is the second trip, the same is our GSA and our instructor led us to go, although some of this quite long distance, in the Boston surburbs, by the way I first came to Boston to enjoy the this seaside Kennedy Museums. In fact, I know not a lot Kennedy, but the museum today to read a description of his film. Let me a rough idea of his life.
Inside the museum, everywhere in the Kennedy years, when the articles that most of the time the election is what John F. Kennedy, to be honest, I do not particularly like the exhibits and the least favorite. I will only go to aooreciate, because too many exhibits and not everyone is watching carefully.
However, in so many exhibits inside, I was most impressed by the Space Room. As introduce said take one small step into an exhibit that fills your imagination with tje excitement and enthusiasm of the early space race. In 1951 President Kennedy pledged that America would land a man on the moon and return him safety within the decade. This is the history of mankind is of a great significance. Exhibition hall is another Kennedy-Nixon Debate, I think that this exhibition can feel that time was John F. Kennedy When running for president the sort of debate, the atmosphere, remember this scene in our high school histiory book has made me a deep impression.
This is my journey, make me just use one word to describe awesome.
Monday, June 14, 2010
Welcome to our blog!
Welcome to our Exploring America blog for Summer 2010! You can begin posting as soon as you accept the invite I e-mailed you.
Remember, each week you are required to:
a) post at least 1 blog entry (by Monday morning at 8:30 a.m.)
b) comment on 2 of your classmates' entries.
I'm looking forward to reading what you write! I'll be blogging too, so you can see what I think about our seminars and trips.
Rebecca