Alumni Internship: Federal Reserve Bank of Atlanta – Georgia
*If you want more information about this BCEP graduate’s internship experience or want to get in touch with a student/alum, please contact Caroline Ramaley at [email protected].
Organization: Federal Reserve Bank of Atlanta
Location: Atlanta, Georgia
Student Name and Class Year: Justine Schwartz, 2014
Organization description: The Federal Reserve Bank of Atlanta is part of the central bank of the United States. The Federal Reserve System—the Fed, as it is often called—consists of twelve Reserve Banks located around the country and the Board of Governors in Washington, D.C.
The Atlanta Fed and the other Reserve Banks play an important part in all three of the Fed’s functions: monetary policy, bank supervision and regulation, and the operation of a nationwide payment system.
In its monetary policy role, the Bank seeks to keep prices stable and economic growth at its maximum sustainable rate. The Bank president plays a role in deciding the direction of interest rates and meets with the other Bank presidents and the seven governors at the Board every six weeks at the Federal Open Market Committee meeting. The Bank’s Board of Directors—drawn from the business community, banks, and labor and consumer organizations—makes recommendations every two weeks on the level of the discount rate, which is the rate at which the Bank lends to commercial banks.
The Atlanta Fed’s Supervision and Regulation staff seek to promote the safety and soundness of the banking system, foster stability in financial markets, ensure compliance with applicable laws and regulations, and encourage banking institutions to responsibly meet the financial needs of their communities.
