Ever see millions of dollars get shredded into the trash? When does a dollar bill not, well, fit the bill anymore? Yesterday, EconomyStory took a field trip to the Federal Reserve branch in downtown LA with a group of NPR reporters here for the week from across the country to learn from experts about expanding their coverage of the economy.
The training program (more on that here) is taking reporters from places as remote as Rapid City, South Dakota and as bustling as New York City to hear from professors, researchers, and other journalists about concepts and issues like the mortgage crisis, securities regulation, and financial literacy.
At the Federal Reserve, one of 12 branch offices of the country’s central bank around the country, we learned how cash is transported and stored for banks around the country, what circumstances take a bill out of circulation, and even saw a real-live $10,000 bill. Most of our trip was off the record, so no pictures from the vault…sorry!)
Currency does seem to be the name of the game this week. Fittingly for our location in LA, Nightly Business Report tells us the True Hollywood Story of the dollar.
And NPR’s Planet Money blog shows us how one artist is taking coinage matters into his own hands.