Wednesday, June 30, 2010

The Fedral Reserve Bank of Boston

We went to the Fedral Reserve Bank of Boston on last Friday afternoo. I have not been there before. So, I was excited about this trip.
The Fedral Reserve Bank of Boston is huge, fashion, and style. It is also pretty spectacularity. I was surprised when I saw this building. When we entered in the bank, I find that the lobby in there is also beautiful. It is clean and bright. A few minutes later, we went to a basement room attending a lecture.
During the lecture, I knew a large amount of informations about the Fedral Reserve Bank. The Fedral Reserve Bank of Boston is independent within the United State Government. It is include a management committee. There are seven committee members whose appointed by President and passed by the Congress. The term of office foe each member is fourteen years. They cannot reappointment after that. The Fedral Resever Bank act as the central bank in the United State. Its power are gain from Congress. It is independent bank. In addiotion, the Fedral Reserve Bank make monetary policy, and also make bank regulation and supervision. It is also a payment system.
In the end of lecture, the bank give each of us a packet of money that are cutted by something. The management told us if the money is too old, they will recover it, and cut them into pieces. That is interesting.
I like this trip. It let me konw many information of The Fedral Reserve Bank in the United States.

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