Federal Reserve Bank of Boston

This Friday, we went to the 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

It was a good chance for me to come to the Federal Reserve Bank of Boston, and after the presentation of a leader in the system, I felt I had understood a lot of information about the money-influencing in the overall economy. As one of the majestic nations in the world, finacing makes the U.S. become stranger and stranger.

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

I didn't attend the field trip last friday because of the diarrhea, I feel very regret about that. Actually I got up early on last friday, but after I got up, I felt an extremly hurt in my stomach, and I realized that probably I've got the diarrhea then I begain to go to the bathroom......

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.

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

Last Friday we had a trip as usual where is the central bank of the USA. And a stuff member who told us he have worked for the Federal Reserve Bank of Boston for twenty years gave us a speach to introduce the central bank.

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.