The Federal Reserve System believes educated consumers can play a key role in promoting a healthy economy. But with a constant flow of new products and changes hitting the financial markets, consumers are hard-pressed to keep up. Statistics show that financial stress is continuing to take a toll, as evidenced by the growth in household debt (relative to income), delinquent payments on bills and even bankruptcies.
Starting this spring, the Fed is stepping up efforts to lend a helping hand with the launch of "There's a Lot to Learn about Money," a nationwide personal financial education campaign.
"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," says Fed Chairman Alan Greenspan. He is playing a key role by starring in public service announcements airing on English and Spanish television.
The St. Louis Fed is doing its part to promote financial literacy through:
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