Financial Update (Second Quarter 2003)



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There’s a Lot to Learn About Managing Money

Personal financial education is one of the Federal Reserve’s ongoing commitments. As part of a broad initiative to improve financial literacy, the Fed rolled out a grassroots campaign to spread the word about the importance of sensible financial practices across all levels of the economy.

In a public service announcement aimed at raising awareness of the need for financial education, Federal Reserve Board Chairman Alan Greenspan stresses the benefits of sound economic and financial education. “No matter who you are, making informed decisions about what to do with your money will help build a more stable financial future for you and your family,” notes Greenspan in the message, which is airing on major television networks and radio stations.

At a news conference to launch the new message, Federal Reserve Board Governor Edward M. Gramlich said, “Americans of every income and educational background want additional tools and training to address the complexities of personal finance. Educated consumers are one key to keeping our economy functioning well.”

This newest initiative builds upon existing efforts to foster financial education. Using the public service message, a new brochure, enhancements to the Fed’s financial education Web site as well as sponsorship of key programs and events, the Fed hopes to make people aware of the need to be knowledgeable about personal finance.

For more information on financial education, visit the Federal Reserve education Web site at www.FederalReserveEducation.org.

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