Report to the Congress on the Office of Minority and Women Inclusion
- Inclusion of Minority-Owned and Women-Owned Businesses
- Financial Literacy Activities
- Diversity Policies and Practices of Regulated Entities
Financial Literacy Activities
During 2013, the Board continued to participate in community and Federal Reserve System outreach events and programs, examples of which are listed below.
- Congressional Black Caucus Annual Legislative Conference: In September 2013, the Board, in conjunction with the Federal Reserve System, sponsored a booth at the 43rd Annual Legislative Conference. Financial education materials and information were distributed to conference attendees. The Board also provided support for the Financial Education Youth Summit convened by the Congressional Black Caucus held at the U.S. Capitol Visitor Center and Trinity Washington University.
- FedEd Program: During 2013, research assistants from divisions within the Board continued to implement a program developed to work with local high school students to improve their understanding of personal finances and the role of the Federal Reserve System in the economy. Subjects covered include the importance of saving, budgeting, using credit, establishing financial goals, and the impact of Federal Reserve policy on those subjects. More than 40 presentations were made to middle and high school students in the Washington metropolitan area. Presentations were made at ten schools in the District of Columbia: Roosevelt High School; Wilson High School; Coolidge High School; Dunbar High School; Anacostia High School; Ballou High School; Washington Latin Public Charter School; Edmund Burke School; KIPP DC Charter School; and St. Albans School. Presentations were made at two schools in Virginia--Annandale High School and Marshall High School--and one school in Maryland--Stone Ridge School of the Sacred Heart. Presentations were also made at the District of Columbia Public Schools Central Office to preview the FedEd Program for the New Heights Providers Meeting, the Sumner School for the DC Future Business Leaders of America, and the Heights School.
- Federal Reserve Financial Literacy Day: On October 23, 2013, the Board and the Federal Reserve System held training programs and seminars around the country on such topics as saving, budgeting, credit use, and the establishment of financial goals. Board research assistants presented the program to classes at two schools in the District of Columbia: Cardozo High School and the Columbia Heights Education Campus.
Math x Economics: On May 23, 2013, the Board hosted the Math x Economics program for a second year in a row. The goal of the program was to introduce students to economics as a potential course of study in college and as a future career option. The Board's recruitment efforts targeted groups who are underrepresented in the field of economics, including minorities and females, especially from underserved schools. A total of 29 students from Washington metropolitan area schools attended. The students completed a survey at the end of the program; all 29 participants said they would recommend the program to other students. The descriptive statistics of the respondents are listed below.
Distribution of participants Percent Female 56 Male 44 Juniors 78 Seniors 22 African American 25.9 Hispanic 18.5 Asian 18.5 White 18.5 More than one ethnicity 14.8 Did not specify ethnicity 3.7
- Education and Training Materials Distribution: During 2013, the Board continued to provide financial literacy materials to consumer education and financial literacy groups, including the University of Maryland Extension Family and Consumer Sciences Center, the YMCA of Metropolitan Washington, Operation HOPE, and It Takes a Community to Raise a Child (located in New York City).
Professional Outreach: On April 3, 2013, Chairman Bernanke delivered remarks to the 13th Annual Redefining Investment Strategy Education (RISE) Forum. His remarks highlighted the importance of promoting economic and financial knowledge among people of all ages and walks of life. He stated that the Board and the 12 Federal Reserve Banks are all deeply involved in economic education and in supporting the work of teachers, schools, and national organizations.On November 13, 2013, Chairman Bernanke hosted the annual Teacher Town Hall Meeting at the Federal Reserve Board. Federal Reserve Banks also held gatherings around the country to provide educators the opportunity to listen to the Chairman and ask questions. His remarks covered the origins, history, and role of the Federal Reserve, and how it has helped shape the nation's economy and financial system.