ECON Senior Dinner - Spring 2018

Trip to the Federal Reserve - April 2018

“The Economics department trip to the Federal Reserve was a fun, easy, and eye-opening opportunity to learn about actual money, the reserve system, and even potential future employment. Everyone that assisted our trip from the Police officers to Prof Nagy herself were very helpful and well trained. I learned three fun facts about the Federal reserve that I never knew before. The first is that Money is not actually created anywhere near the different branches of the reserve, so the money is always just shipped from somewhere else, and its packaged very carefully, in bundles of 100 notes. Another is that the building is very well secured and protected in every way. An example of this protection is the fact that the two money workers behind bullet proof glass aren’t even allowed to leave for the bathroom without a large amount of collaboration and locks to ensure the safety of the money. I also learned that each reserve building has a massive vault which money is stored in for different reasons, one of which is banks use. So technically, if I place my money in a bank digitally, that physical money might be sitting in the Federal reserve vault, which I find fascinating. I absolutely loved the trip and I would even consider going again next year. I highly recommend the trip for anyone interested in finance or economics, as it is a great learning opportunity.” Ben Merrill (Econ 102 student)

“Have you ever seen a billion dollars in cash? If not, one trip to the federal reserve can change that! I was amazed at the amount of money handled there, and at the specific measures that are taken to keep all that cash safe. In addition to the cash facilities, we were given our own personal guide to walk us through the history of this historic institution. This was a once in a lifetime opportunity that I am glad to have experienced!” Max Staples (Econ 302 student)