The Federal Reserve (the Fed) is the central bank of the United States. It has a congressional mandate to promote maximum sustainable employment and price stability. In normal times, the Fed seeks to achieve this mandate by setting the position or "stance" of monetary policy, primarily by managing the level of short-term interest rates.…

In "Proposed National Standards for Financial Literacy: What's In? What's Out?", Maier, Figart, and Nelson pose the question: "How should educators use the standards?" In answering that question, they suggest a number of issues and topics that they believe should be taught along with the "National Standards for…

The Federal Reserve System (the Fed) is one of the most important financial institutions in the world. As the central bank of the United States, it influences the domestic money supply, credit, and interest rates with the goal of achieving stable prices and full employment for the world's largest economy. It provides a variety of services to…

Data and primary source documents are important for understanding past and current events. The Federal Reserve Bank of St. Louis has committed itself to the collection and illumination of economic data and historical information for classroom teachers and researchers. The Federal Reserve Bank of St. Louis provides a number of services--including…

Young people often have their first brush with credit when they leave home to start work or enter college. It is important to teach students about credit early, before they turn 18 and become eligible to sign up for credit cards in their own name. Credit poses risks for the unwary, and many young people get burned. They may pay high annual…

The article profiles Nobel Peace Laureate Muhammad Yunus, founder of Grameen Bank (an independent financial institution in Bangladesh), as well as an economics professor at the University of Chittagong. In his birthplace of Bangladesh, 49.8 percent of people exist below the poverty line, and 73.2 percent of the women are categorized as…

For several years, advocacy groups have recognized the need to strengthen financial education in the K-12 schools. Current statistics support their concerns. Financial illiteracy in the United States is astoundingly high. From 1992 to 2000, disposable personal income for Americans rose by 47 percent, but personal spending rose by 61 percent. In…

Asserts that, although teachers and history textbooks mention banks and money at several points in a typical U.S. history course, they are not accorded their proper significance. Discusses the role of banks and finance in U.S. history, with specific emphasis on the creation and impact of the Federal Reserve System. (CFR)