A visit to the Federal Reserve Bank of Boston

Bruce / Li yang
Date: 6/26/2010
Field trip for Federal Reserve Bank of Boston

This week's field trip, we visited the Federal Reserve Bank of Boston. That's a fantastic trip and we got some knowledges that we had never got before.
The Federal Reserve Banks used the Federal Reserve System and were establthished by congress and in order to operating arms of the nation's central bankng system. Of cause the Congress wanted the Federal Reserve to relatively independent. Because the intent of congress in shaping the Federal Reserve Act was to keep politics out of monetary policy.
The Federal Reserve Bank usually was divided by three parts, they are Monetary Policy, Payment System, Bank Regulation and Supervision.
And this bank is the biggest bank in the US, according to the incompletely statistics, there are 4.2 billion dollars dally-eelectronic payments in this bank. It controls 750 billion dollars in the whole world. 500 billion dollars are overseas and 250 billion dollars are in the US states.
In 2009, the income of this bank is 54.3 billion, 6 billion for the bank inside and bank staff's expenses and 47.3 billion to the treasury.
This was a wonderful trip and I am looking forward to the next trip