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.