Federal Reserve

CEE Board Member Jeffrey M. Lacker in the New York Times: Testing the Limits of the Fed

Jeffrey M. Lacker, CEE board member and president of the Federal Reserve Bank of Richmond, is featured in today’s New York Times. He doesn’t hide his opinion that the Fed is “limited” in its power to stimulate the economy, and “that just throwing money at the economy is unlikely to solve the problems that are keeping a 55-year-old furniture worker from finding a good competitive job.”

Gary H. Stern, former president Federal Reserve Bank of Minneapolis and also a current member of CEE’s board, is also quoted in the story.

“If you have a forceful and compelling rationale, I think that is constructive internally and externally,” Stern said. “I think the Fed obviously has been in my opinion dealt a difficult hand. To some extent the waters are uncharted. It would be in a way remarkable if you had unanimity under these circumstances and I think Jeff’s concerns about what the Fed can accomplish in this environment and what the risks on the inflation side may be, I think that those points need to be taken seriously.”

You can read the full article here.

POSTED: January 9, 2013 | BY: Leslie Rasimas | TAGS: , ,

Chairman Bernanke Addresses the Economic Club of New York

Nan J. Morrison, President & CEO of the Council for Economic Education, last week attended Chairman of the Federal Reserve Bank Ben S. Bernanke’s address at the Economic Club of New York.

Bernanke spoke of slow economic recovery, the job market and upcoming fiscal challenges. Below is a full transcript of his remarks courtesy of the Federal Reserve website:

Chairman Ben S. Bernanke
At the New York Economic Club, New York, New York
November 20, 2012

The Economic Recovery and Economic Policy

Good afternoon. I am pleased to join the New York Economic Club for lunch today. I know that many of you and your friends and neighbors are still recovering from the effects of Hurricane Sandy, and I want to let you know that our thoughts are with everyone who has suffered during the storm and its aftermath. Read more…

POSTED: November 26, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

Chairman Bernanke Addresses Attendees at CEE Annual Conference

The Council for Economic Education (CEE) hosted its 51st Annual Financial Literacy and Economic Education Conference in Kansas City, MO last week. The conference had over 500 in attendance; 240 K-12 educators representing 38 states.

Attendees at the Opening Plenary Session were greeted with a special recorded video message from Chairman of Board of Governors of the Federal Reserve System Ben Bernanke.

In addressing the K-12 teachers, industry thought-leaders and Federal Reserve partners, Chairman Bernanke praised the work of teachers in preparing students to make financial decisions for their own personal success, and in teaching the next generation to become informed citizens on which the country depends.

At the conference, CEE introduced the Voluntary National Content Standards in K-12 Personal Finance, providing a framework for teaching personal finance in kindergarten through 12th grade. Chairman Bernanke highlighted the importance of the collaboration between CEE and the Federal Reserve System on these standards.

In his summary to our attendees, Chairman Bernanke asked the educators to remember that the Federal Reserve System is a partner and a resource, and he thanked teachers for their dedication to our young people and their families.

The 51st Annual Conference received excellent coverage from across the country, including:

The Kansas City Star

The Bay Area Citizen’s Education Briefs

The Bullard Banner News

Ultimate Pearland

Save the date and join us October 3-5, 2013 in Baltimore, MD for the 52nd Annual Financial Literacy and Economic Education Conference.

POSTED: October 15, 2012 | BY: Leslie Rasimas | TAGS: , , ,

Council for Economic Education Hosts 51st Annual Conference in Kansas City

This week CEE hosts the 51st Annual National Financial Literacy and Economic Education Conference. Held in Kansas City, MO October 4 – 6, with more than 500 educators, industry thought-leaders and Federal Reserve partners convening to address the most important issues and obstacles and honor excellence in financial and economic education.  Among the highlights of this year’s conference are the introduction of a new Common Core alignment initiative and new Voluntary Personal Finance Standards, furthering the CEE’s mission of strengthening the economic and financial education of students from kindergarten through high school.

During the Opening Plenary Session Thursday October 4, with keynote speaker Troy Davig, Senior VP & Director of Research, Federal Reserve Bank of Kansas City, CEE will introduce the Voluntary National Content Standards in K-12 Personal Finance, providing a framework for teaching personal finance in kindergarten through 12th grade. The standards contain the areas of knowledge and understanding that are fundamental to personal finance: Earning Income, Buying Goods and Services, Using Credit, Saving, Financial Investing, and Protecting and Insuring, each of which include benchmarks outlining what a student should be able to understand and examples at the 4th, 8th and 12th grade levels.

Friday, October 5, Doug Sovde, Director, PARCC Instructional Supports & Educator Engagement discusses Common Core: What It Means for Financial Literacy and Economics, announcing a new initiative to align resources in economics and personal finance to the Common Core State Standards in mathematics and English Language Arts. The CCSS were established to bring some uniformity to the varied state curricula, and is one of the most significant forces driving K-12 education today.  But while adoption has been widespread, teachers are struggling with implementation.  As a solution, CEE has proposed developing an easy-to-use tool that easily connects teachers to high-quality lessons in economics and personal finance that will help them to meet the standards laid out in the CCSS.

CEE will also recognize the winners of the 2012 John Morton Excellence in the Teaching of Economics Awards:
Kathy Heyse
Sun Valley Elementary School
Monroe, NC

Middle School Level
Timothy Hopfensperger
Tullar Elementary School
Neenah, WI

High School Level
Michael Melvin
Starr’s Mill High School
Fayetteville, GA

For the full list of award winners, visit the website.



POSTED: October 4, 2012 | BY: Leslie Rasimas | TAGS: , , , , , , , , , ,

Take This Survey to Help the Federal Reserve System Centennial Web Gateway

The Federal Reserve System is preparing an inventory of historical materials to enhance transparency through improved web access to records of the Federal Reserve’s past. The initiative is motivated by the 100th anniversary of the signing of the Federal Reserve Act in December 2013 and the 100th anniversary of the opening of the Federal Reserve Banks in November 2014. The inventory will serve as a resource for teachers,  researchers, academics, and others interested in studying the history of the nation’s central bank.

As a potential user, we would value your feedback, via this survey, about resources you currently use and favor, as well as features that you might find useful in accessing historical materials. The survey will take approximately 10 minutes to complete.

Your participation is confidential and anonymous. Outside of broad classification information, no specific personal information is requested or collected.

Thank you in advance for your time.

Take the survey. Deadline to participate is Thursday, August 16.

POSTED: August 14, 2012 | BY: Leslie Rasimas | TAGS:

The Importance of the Conversation with the Chairman: A Teacher Town Hall Meeting

Federal Reserve Chairman Bernanke addressed the nation this week through his “Conversation with the Chairman: A Teacher Town Hall Meeting” live video conference.

The subject? Financial literacy.

In the wake of the 2008 financial crisis, the growing concern continues to be how we as a nation will teach our children the importance of financial literacy so they do not make the same mistakes. Chairman Bernanke opened the town hall with a brief speech where he gave credit to the Council for Economic Education’s National Standards for Personal Finance (to be released later this year) by saying “To provide the most effective education, curriculums should also have clear standards and goals…The five core competencies are reflected in the National Standards for Personal Finance being developed by the Council for Economic Education; several of our Federal Reserve System colleagues are working with the Council on this project.”

Chairman Bernanke graciously took questions from economics and personal finance educators who gathered at each of the Federal Reserve banks across the country. Educators asked questions covering the gamut of topics, from which current events should be taught in the classroom to how to prevent the next financial crisis.

The Chairman’s responses were coincidentally much aligned to the work we do at CEE. He recommended games and simulations as one of the best ways to teach young students about personal finance. CEE’s own Gen i Revolution is a free, online personal finance game that teaches high school students the basics of personal finance, including creating budgets, basic investing and how to use credit wisely.

Teachers understand the importance of drawing on real-world scenarios to teach their students in the classroom. Chairman Bernanke addressed the question from a teacher of which current events should be taught in the classroom. There is no definite answer to which specific events, but any current news items make for good classroom fodder. EconEdLink, CEE’s free classroom resources for K-12 teachers of economics and personal finance, provides access to the latest economic news and information and related lesson plans in Teaching the News.

CEE convened our own panel of educators to watch the Chairman’s address, and we continued the conversation after the town hall ended.

Dawn Shum, an elementary teacher in New York, reiterated the importance of personal finance in the classroom and at home by saying, “We need to educate elementary students beyond identifying quarters and dimes.”

We couldn’t agree more.

CEE thanks the Chairman and the Federal Reserve for bringing attention to the importance of financial literacy, and for taking questions from our nation’s educators who work tirelessly to teach these life skills to future generations.

View Chairman Bernanke’s address here. Share your thoughts by leaving a comment below.

POSTED: August 10, 2012 | BY: Leslie Rasimas | TAGS: , , , , , , ,


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