Last week, I visited Bank of The Federal Reserve, which was built in 1913. Bank of The Federal Reserve develops and implements the monetary policy, consummates payment system and performances bank regulation and supervision. The bank has 3 characteristics that it issues but does not print money; money is not back by gold or silver, and the bank independents within the government.
Moreover, board of government is the top of the Federal Reserve System. It controls the Federal Reserve. The second floor is federal open market committee, and the third is Federal Reserve Bank. The bottle of the system is American people. This diagram illustrates the structure of the Federal Reserve. Let us understand the function and effects.
In addition, we learnt more about identify the authenticity of money. On the paper dollars, there are head portraits of several presidents in America. One more characteristic of paper dollars, there are watermark on them.
Finally, I have great time during this trip.
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