As figure 5 shows, this version of the Taylor rule prescribes a much higher path for the federal funds rate than the median of participants’ assessments of appropriate policy.
If our schools can’t spare the resources to provide financial literacy as a subject unto itself, I believe that the concepts required for sound financial decisionmaking should, at a minimum, be incorporated into existing subject areas. Math problems can involve consumer financial calculations. Social studies classes can help students understand the real world financial issues and decisions they will face as young adults.