Blog writing #4 ----The Federal Reserve Banks

Blog writing# 4

Ji Mengzhu (Kelly)

06/28/2010

This week, we have a visit to the Federal Reserve Banks which were created in 1913 and established by Congress as the operating arms of the nation’s central banking system. The appearance of the Federal Reserve Banks is very majestic and spectacular. On the other hand, the Federal Reserve Banks has the very rigorous process for visitors to go inside of the Banks. That is to say, every person should have safety inspection. For instance, all your metallic objects need to be put on the belt, such as coin, cell phone, and anything with Aluminum foil.

Additionally, the professional officer gave us a detailed pretention about the Federal Reserve System. He mainly divided his presentation into three parts: Monetary policy, Payment system and Bank regulation and supervision. During his presentation, I had a better understanding about this Bank. He mentioned that “the Federal Reserve Banks hold the cash reserves of depository institution and make loans. Besides, it will move currency and coin into and out of circulation, and collect and process millions of checks each day.” What’s more important, the Federal Reserve Banks are relatively independent within the government; in other words, it is self-financed and therefore is not subject to the congressional budgetary process.

On the whole, I acquire a lot of knowledge in terms of banking from this trip ---- A visit to the Federal Reserve System.

Blog writing #3

This week, I have the freedom trail in Boston. I walk along to visit a plenty of places, such as the Boston Common, Park Street Church, Boston Latin School, Faneuil Hall and so on. It is very fantastic and amazing. In the following paragraph, I would like to introduce the scenic spot I am most interested in.
First of all, I want to mention the Faneuil Hall which is my favorite scenic spot. My first impression of Faneuil Hall is that the style of this building is quite spectacular and a little traditional. Date back to the history of Faneuil Hall, it was originally built in 1742; Faneuil Hall was the site of the colonist’s early protests against British taxation and is still used as a meeting place today. There are three floors in this building. The first floor is to shop, the second floor is to have the important meeting and the third floor is “Headquarters for Ancient and Honorable Artillery Company of Massachusetts, the third oldest chartered military organization in the world and oldest in the western hemisphere”. (The Freedom Trail, 2010)
Additionally, I also talk about the feeling of this trip. It is a long time to have this trip, because it requires us to walk along to visit the twelve scenic spots. Besides, the weather is so hot that I nearly cannot open my eyes. Accordingly, I feel quite uncomfortable. However, after visiting those meaningful places, I think it is very worthy of having this trip. This is because I acquire a lot of knowledge and broaden my horizon from this trip. Therefore, that is why I think this trip is quite fantastic and amazing.
In a word, that is my perspective towards this trip----The Freedom Trail.