Federal Reserve Bank of Boston facts for kids
Federal Reserve Seal
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Headquarters
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| Headquarters | Federal Reserve Bank Building 600 Atlantic Avenue Boston, Massachusetts, U.S. |
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| Established | May 18, 1914 |
| President | Susan Collins |
| Central bank of |
First District
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| Preceded by | Eric S. Rosengren |
| Succeeded by | Susan Collins |
| Website | bostonfed.org |
| The Federal Reserve Bank of Boston is one of twelve regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Boston, often called the Boston Fed, is like a special bank for banks in a part of the United States called the First District. This district includes all of New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and most of Connecticut.
The Boston Fed's main job is to help the economy grow and stay strong in New England and across the country. It also has a special group called the New England Public Policy Center that studies important economic issues.
The current president of the Federal Reserve Bank of Boston is Susan Collins. She made history as the first Black woman and the first woman of color to lead any of the 12 regional Federal Reserve banks.
Since 1977, the Boston Fed has been located in a very unique building in Boston. It's a tall, 32-story building at 600 Atlantic Avenue. The building's design is special because its main tower seems to hang between two other towers. Before 1977, the bank was in a different building on Franklin Street, which is now a hotel.
What is the Federal Reserve?
The Federal Reserve System is the central bank of the United States. It's often called "the Fed." Its main goals are to keep prices stable, help the economy grow, and make sure there are enough jobs. The Fed also makes sure banks are safe and sound.
The Federal Reserve System has 12 regional banks, and the Boston Fed is one of them. Each regional bank works with local banks and businesses in its area.
Leaders of the Boston Fed
The person in charge of the Boston Fed used to be called a "Governor." But after a law change in 1935, the title became "President." These leaders help guide the bank's work and make important decisions about the economy.
Susan Collins became the 14th president of the Boston Fed on July 1, 2022. She continues to lead the bank in its mission to support the economy of New England and the nation.
Images for kids
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Map of the First District, showing the area the Boston Fed serves.
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The Federal Reserve Bank of Boston building on an overcast day.
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The Federal Reserve Bank's location within the Financial District of Boston.
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Security measures for the Federal Reserve Bank of Boston's parking lot.
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The Federal Reserve Bank of Boston building viewed from the back.
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The Federal Reserve Bank of Boston viewed from the side at street level. The building is covered with matte aluminum panels.
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The front entrance of the Federal Reserve Bank of Boston building.
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The Federal Reserve Building of Boston viewed from the side.
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The Federal Reserve Bank of Boston tower near the South Boston financial district.
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The Federal Reserve Bank Building in Downtown Boston.
See also
- Federal Reserve System
- Federal Reserve Districts
- Federal Reserve Branches
- Federal Reserve Act
- Federal Reserve Bank Building (Boston)
- Structure of the Federal Reserve System
