Last week, I visited the Federal Reserve Bank of Boston. Before I went there, I had heard that Federal Reserve System was a special federal banking system in the United States.
The Federal Reserve Bank of Boston was Boston’s third tallest building. The building was completed in 1977 and is 614 feet (187 m) tall with 32 floors. It was grand and superb. Then a staff of the Federal Reserve Bank of Boston gave us an excellent presentation. Thorough his introduce, I knew Federal Reserve System was a federal banking system which composed basically of a central, governmental agency. It was designed by Congress to have a broad perspective on the economy and on economic activity in all parts of the nation. And Federal Reserve Banks were established by Congress as the operating arms of the nation’s central banking system. The Federal Reserve Banks have several functions which include hold the cash reserves of depository institutions and make loans to them and move currency and coin into and out of circulation.
I think Federal Reserve System can regulate American economy and stabilize American commodity prices and the circulation of money. American government doesn’t have power to issue currency directly. It avoids inflation and keeps balance of American economy.
As a business student, I was very excited that had a chance to visit the Federal Reserve Bank of Boston. It attracted me and I learnt a lot from this meaningful and special trip.
The Federal Reserve Bank of Boston was Boston’s third tallest building. The building was completed in 1977 and is 614 feet (187 m) tall with 32 floors. It was grand and superb. Then a staff of the Federal Reserve Bank of Boston gave us an excellent presentation. Thorough his introduce, I knew Federal Reserve System was a federal banking system which composed basically of a central, governmental agency. It was designed by Congress to have a broad perspective on the economy and on economic activity in all parts of the nation. And Federal Reserve Banks were established by Congress as the operating arms of the nation’s central banking system. The Federal Reserve Banks have several functions which include hold the cash reserves of depository institutions and make loans to them and move currency and coin into and out of circulation.
I think Federal Reserve System can regulate American economy and stabilize American commodity prices and the circulation of money. American government doesn’t have power to issue currency directly. It avoids inflation and keeps balance of American economy.
As a business student, I was very excited that had a chance to visit the Federal Reserve Bank of Boston. It attracted me and I learnt a lot from this meaningful and special trip.
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