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​Friday, November 30, 2012, Atlanta Federal Reserve Tour

 

On Friday, November 30th, Georgia Regents University economics students toured the Federal Reserve in Atlanta. The Atlanta Federal Reserve serves as a bank for commercial banks and is responsible for the sixth district, covering the states of Georgia, Alabama, Florida and parts of Tennessee, Mississippi, and Louisiana. During the tour, students saw where money is sorted and inspected, the AGVs that actually file sway the money, and the boardroom where Atlanta Fed meetings are held.

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The inspection procedure detects counterfeit bills as well as bills that are worn in incoming batches. In either case,these counterfeit and worn bills are pulled from circulation. After inspection, automated guided vehicles (AGVs) pick up the money and house take it off to be housed for safe-keeping. The Atlanta Federal Reserve Boardroom is where the important decisions are made by the board. Board members are actually members from the community, who own are in business or who own businesses, farms, etc. They share their concerns and perspectives on the local economy with the Atlanta Federal Reserve president during meetings. The Atlanta Fed president uses their perspectives along with more data when he goes to Washington to meet with other Fed presidents to make determinations such as whether interest rates should remain the same or increase.

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Students had a great time on the trip and used their free time after the tour to visit other sites in Atlanta, like the World of Coca-Cola and the CNN Building.

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Hopefully on the next trip, you'll join the fun, too!