Federal Reserve System Prepares Inventory of Archival Records; CEE’s Nan J. Morrison Works with Centennial Advisory Council to Launch Initiative

The Federal Reserve System has just announced plans to offer comprehensive, single-point access to its inventory of historical materials, a valuable resource for researchers, academics, and anyone interested in the chronicle of the nation’s central bank. The inventory will be the first of several initiatives surrounding the Federal Reserve’s double-centennial, with hundred-year anniversaries of the signing of the Federal Reserve Act and the opening of the Federal Reserve Banks in December 2013 and November 2014.

Overseeing the Federal Reserve’s centennial initiatives is the Centennial Advisory Council, comprised of 24 members from the public and private sectors. Working in conjunction with a planning committee chaired by Jeffrey Lacker, president of the Federal Reserve Bank in Richmond, the Centennial Advisory Council will keep the budget for celebration and substantive work on-balance and conduct further educational outreach.  Council for Economic Education’s CEO and President Nan J. Morrison has been appointed as a member alongside honorary co-chairs Paul A. Volcker and Alan Greenspan.

The Federal Reserve inventory will identify materials that are currently available from a variety of sources, including the websites of the Reserve Banks and the Board of Governors, the Federal Reserve Archival System for Economic Research, websites housed at universities, and private collections. It will also include information about material that is not yet available online but is currently being considered for digitization and posting. With improved web access to its texts, photographs, video and audio recordings, the Federal Reserve will enhance transparency, putting its archival records directly in the hands of the public.

As part of its efforts to expand the inventory, the Federal Reserve invites historians, scholars, and all interested members of the public to submit historical sources for inclusion that aren’t listed. The inventory and additional information about the Centennial are available at any of Federal Reserve Bank’s state websites and the official site of the Board of Governors.

POSTED: June 4, 2012 | BY: admin | TAGS: , ,

CEE Attends the White House Summit on Financial Capability and Empowerment

Last week, the White House hosted a Summit on Financial Capability and Empowerment addressing the gap between our complex financial marketplace and consumers’ knowledge about them—or lack thereof.  Our CEO and President Nan J. Morrison was among the industry leaders invited to attend the conference, at which several important announcements were made.

David Nelms, CEO of Discover Financial Services, announced Chicago Public Schools’ plans to implement a new Financial Literacy Framework at the K-12 level. This initiative is the result of a 4-year partnership with CEE, Discover and other industry partners, created to provide students with the necessary real-world skills to navigate today’s financial landscape. CEE will also provide the curriculum for a 12th-grade personal finance capstone course, funded by a $1 million grant from Discover.

Also of note, the Administration announced its new Financial Capability Toolkit containing key information for K-12 schools, institutions of higher education, employers, and community leaders.  Several of CEE’s resources are highlighted in the guide, including this year’s Survey of the States and our Financial Fitness for Life program.

POSTED: May 15, 2012 | BY: admin | TAGS: , , , , ,

Early Education in Personal Finance Will Thwart Student Loan Crises

With each new report, statistic and news story, it is apparent today’s students are graduating college with an alarming amount of student debt.  The latest data from the Department of Education shows ninety-four percent of students who earn a bachelor’s degree are borrowing to pay for it, up from 45 percent in 1993.

This article in The New York Times features recent grads and current higher-ed students who are, surprisingly, not prepared to pay back their loans.  As 18-year-old Kelsey Griffith, who is graduating from Ohio Northern University with $120,000 in student debt, said, “I knew a private school would cost a lot of money. But when I graduate, I’m going to owe like $900 a month. No one told me that.”

As Kelsey clearly states, she had no personal finance education to explain  the real cost of college.  As higher education institutions increase marketing and recruiting tactics, students are left to their own devices to cover the bills.

Not only is personal finance education critical for our youth when it comes to their own finances, but we cannot afford to raise another generation that does not fully understand the complexities of our global economy. The recent economic downturn has brought nationwide attention to the dangers of a financially illiterate society. CEE’s 2011 Survey of the States shows that while there has clearly been progress since the first Survey in 1998, that over the last two years, the trend is slowing and in some cases moving backwards. Such ignorance comes with a high price—for all of us.

It is critically important to educate students on economics and personal finance, and if requirements are passed, schools must provide these important classes about the real world issues that students face—before it is too late.

POSTED: May 14, 2012 | BY: nan | TAGS: , , , , , ,

CEE in the News: Closing the Gap in Economic Education: Financial Literacy Begins in the Classroom

CEE’s President and CEO Nan J. Morrison has new post on Huffington Post Education

“Like most young adults fresh out of college, saving for the future wasn’t my top priority when I landed my first job. Left to my own devices, I can’t say for certain I wouldn’t have spent almost every cent of those paychecks, if not for my father reminding me once a week, every week, to contribute to my 401(k). He never missed a call — and I never missed a payment.

But not everyone is so lucky to have a mentor like I did.”

Read the full blog here.

POSTED: April 30, 2012 | BY: admin | TAGS: , , , , , ,

Council for Economic Education Announces $200,000 Challenge Grant

Board Member to match all gifts received through June 30, 2012, up to $200,000

The Council for Economic Education (CEE), the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school, announced a Challenge Grant.  Funded by one of CEE’s generous board members, the Challenge Grant will match dollar-for-dollar any gifts received by June 30, 2012, up to $200,000.

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“If there’s one lesson we’ve learned from the recent recession and its painful fallout, it’s that an alarming number of Americans lack the most basic dollars-and-cents understanding they need to survive in our global economy,” said President and CEO Nan J. Morrison. “CEE raises funds to support the financial education of future generations, and a challenge grant that will match donations dollar-for-dollar is economics we can all understand.”

CEE is uniquely positioned to help narrow the widening gap between what people know about economics and personal finance, and what they need to know.  Last year CEE trained more than 55,000 teachers, including 5,000 in some of the nation’s lowest-performing high schools; those teachers, in turn, reached 5 million students.  Funds raised through the Challenge Grant will enable CEE to support educators more effectively, including programs for Hispanic Americans, girls and K-5 after school providers.

Join in the effort to make economic and personal finance education a priority in the schools, and help educate young people about the economy they will one day ultimately inherit by donating today to CEE’s Challenge Grant.

POSTED: April 19, 2012 | BY: nan | TAGS: , , , , , ,

Welcome from the CEO

Dear Friends,

I’d like to welcome you to the newly redesigned CEE website. Our site is dedicated to our core customer – you, the educator!

CEE closes the gap in economic and financial literacy for K-12 students, and we have been doing this for 60 years.  We start by educating our teachers – last year, 55,000 who reached approximately 5 million students.  It is only by acquiring economic and personal finance education that children can learn that there are better options for a life well lived, will be able to see opportunity on their horizon line and, ultimately, can grow into successful and productive adults capable of making informed and responsible decisions.

We carry out our mission by providing professional development to teachers, classroom resources that incorporate economics and personal finance into math, language arts, science and social studies.  CEE aligns all of our teacher resources to national standards – use this fun tool to find the standards in your state.

I’m excited for you to utilize this website in your everyday preparations by accessing free lessons, research papers and our Survey of the States – a bi-annual report that brings attention to the critical importance of economics and personal finance education by documenting its status in the fifty states and the District of Columbia.

We are continually updating and expanding our offerings. I look forward to your feedback – leave a note on our new blog or send an email and let us know what you think.


Nan J. Morrison
President & CEO

POSTED: March 8, 2012 | BY: nan | TAGS:

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