Their success is directly connected to the Fed’s mission. Educating young people and preparing them for the demands made on the 21st century workforce will have a huge impact on the productivity of the U.S. economy. Rising productivity allows living standards to rise without contributing to inflation.
So the Fed’s goals for monetary policy—to promote maximum, inclusive employment and price stability—are closely related to the topics that we will be discussing today. The decisions that we at the Fed face on interest rates and other matters must be, and will be, informed by the perspectives that all of you bring to the table today about how to help young people thrive.