Fed's Minehan: Economic Education Important

Federal Reserve Bank of Boston President Cathy Minehan said today that the U.S. central bank has an important role to play in promoting economic education.

"The modern world is a complicated place" and "a basic grasp of economics and personal finance will not only improve (people's) ability to navigate a changing job market," it will also help them "build wealth for their future," she said.

"We face a formidable challenge in raising the overall level of economic and financial literacy in the United States" and elsewhere, Minehan said. Ultimately, "central bank support for economic and financial education is a form of enlightened self-interest," she said.

Minehan's comments were prepared for delivery before a group in Warsaw, Poland. She made no mention of monetary policy in her formal remarks. (Dow Jones)