Visited the Federal Reserve Bank of Boston

On the June 25th, we had a trip to visit the Federal Reserve Bank of Boston. At 9 o'clock we got together at Guggles and took the orange line to the Downtown crossing and transfered to the red line, one stop later, we arrived the Federal Reserve Bank of Boston.

The Federal Reserve System was designed by Congree to have a broad perspective on the economy and on economic activity in all parts of the nation. It's a ferderal system, composed basically of a central, governmental agency- the Board of Governors-in Washington, DC. And twelve regional Ferderal Reserve Banks, located in major cities throughout the nation. The Federal Reserve Banks were established by Congress as the operating arms of the nation's cental banking system.

We listened a presentation from a person who have been worked in the Ferderal Reserve Bank for 23 years, and watched a short film. In this short film we know that the Ferderal Reserve Bank created in 1930. And in 1800, states could creative their own money. Big part of the Ferderal Reserve Banks are located in the northeast. He taught us how to differentiate the real and bogus money.

Through this trip, we know the histroy of American bank and the economic system. It's different with Chinese bank. All of the Chinese banks are state-owned not independent.