The Federal Reserve Bank of Boston

When the world cup is being increasingly intense, when the Carlos Tevez performed a wonderful goal in the march between Mexico’s, and when Lioner Messi did beautiful assistant; I am still working on this essay. -_-# Alright, it’s just kidding. LOL.

Well, I do feel lucky that I have had the opportunity to visit one of the US Federal Bank—the Federal Reserve Bank of Boston. In general, there are 12 Federal Bank (informally as the FED) in the US, which forms the central bank system of the United States. The FED was created in 1913 and still works as the most essential and fundamental national banking system.

During this visit I attended a presentation about the FED and the banking system of US. The FED plays a very important and indispensable role of the US economic system. It balances the economic system especially the balance of inflation and the avoidance of rescission. It also promotes an economic stability and growth. Generally, I found three things that are interesting during the presentation: the payment system of FED, the relationship between FED and the Government and one that the FED destroys 10 million dollars per day.

The FED, in my understanding, is a kind of half-private institution. The theory of the FED is private but it also gives money to the Government per month. So it is not really completely private. In addition, I heard that the FED destroys 10 million dollars a day, because it is too old to use or it is not holistic. Moreover, the FED does not print money, instead they issue money. There is only one company that prints money.

In short, I think that I learned something during this trip. Again I am looking forward to the next field trip. Hopefully, it will be more fun.