Fed Chair Janet Yellen said in a speech yesterday that “public education spending is often lower for students in lower-income households than for students in higher-income households.”
The Fed’s unusual comment on education came in a speech, delivered at the Conference on Economic Opportunity & Inequality sponsored by the Federal Reserve Bank of Boston, and named education as one of the four “building blocks of opportunity” that could help reduce inequality, with the other three being parents’ financial resources, starting a business, and inheritance. Of the four areas, education is where the state can make the greatest impact.
The focus on education is timely, as new techniques, facilitated by IT, are evolving rapidly and offer a chance to rejuvenate learning.
BloombergBusinessWeek: Janet Yellen on the Broken Way America Pays for Public Schools