Fed Chairman Champions Early Childhood Education

Federal Reserve Chairman Ben Bernanke said early childhood education is "crucial" and that effective schooling benefits both the individual and larger economy by reducing unemployment, increasing wages, and boosting job satisfaction. In a prepared video, Bernanke addressed the conference of the Children's Defense Fund in Cincinnati, OH. From the Wall Street Journal:

“When individuals are denied opportunities to reach their maximum potential, it harms not only those individuals, of course, but also the larger economy, which depends vitally on having a skilled, productive workforce,” said Mr. Bernanke, noting that his wife is a teacher and that he himself had been a professor.

Starting children’s education at a young age prepares them better for school and makes them more likely to be economically successful and contribute more to society when they are older, Mr. Bernanke said. He pointed to one study showing that three- and four-year-olds who attended a “high-quality” day care for half the day were more likely to own their own homes when they were 40 years old than a control group who didn’t attend the day care. Programs that bolster children’s early skills and involve their parents particularly help disadvantaged children, Mr. Bernanke noted.

Mr. Bernanke's statements echo the work of Democrats on the committee, who have remained committed to improving access to high-quality early education to for all Americans. Learn more about committee Democrats work to ensure children all across the country have access to an early childhood education.