Financial education: what central banks can achieve

Why might central banks be interested in personal finance education? As Cathy Minehan, president of the Federal Reserve Bank of Boston argued, "Central bank support for economic and financial education is a form of enlightened self-interest. We recognise that an informed public - a public that understands our role in the economy - will be far more likely to understand and accept the reasoning behind the difficult decisions that central banks sometimes have to make." Another compelling underlying

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