CFAW Members Unforgettable Experience of the Federal Reserve
July 12, 2018 Federal Reserve Tour
On July 12 and July 19, About Fifty CFA Society Washington, DC (CFAW) members had an unforgettable experience of taking a private tour inside the Federal Reserve. Upon entering the historical Eccles building, CFAW members were greeted by the Federal Reserve Security Guards and gathered together in a waiting room, providing them a chance to network, before being escorted into the main building.
Once inside the main building, CFAW members were welcomed by a Federal Reserve employee who began the tour in a small room introducing the history of the Federal Reserve. She showed the portraits of Woodrow Wilson, the founder of the Federal Reserve System, and Carter Glass, the defender of the Federal Reserve System.
CFAW Members then preceded walking in a large hallway, enjoying the buildings many varieties of art and architecture that the building offers. One of the most prominent art work that members got to view, was the Federal Reserve Seal.
Members continued the tour up the stairs, where the tour guide asked members to take out a dollar bill to look at where their money has been printed. 12 different Federal Reserve Banks are responsible for printing paper money in the U.S. By looking at the letter in the Federal Reserve Seal to the left of the portrait of George Washington, Members can figure out which of the 12 printed. Here’s the list of these 12 Federal Reserve Banks: Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
July 19, 2018 Federal Reserve Tour
Across from the stairs, members got to go inside a private library, where they got to view historical and written documents from past presidents and emergency financial situations. After taking a tour of the library, Members got to experience the most anticipated part of the tour, where they got to sit in the Board chair in the Board of Governors room where magic happens. In this room, Members also had a chance to see displays of different series of national currency, United States notes, silver certificate, gold certificates, and Federal Reserve notes.
CFAW members got to watch a brief video about the establishment of the Federal Reserve in 1913 and its role to provide the nation with a safer, more flexible, and more stable monetary and financial system.
Jerome Powell's seat in the Board of Governor's Room, Current Chair of the Federal Reserve
At the end of the tour, members had a chance to take a picture sitting in the Chair of the Board of Governor’s seat and received a souvenir from the guide.
Contributors: Yue Dou & Serena Roche