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Yellen: Growing Up Poor Hurts Adults' Financial Success


FILE - Federal Reserve Chair Janet Yellen.
FILE - Federal Reserve Chair Janet Yellen.

The head of the U.S. central bank says new research strengthens the case for investing in early childhood education.

In a Washington speech Thursday, Federal Reserve Chair Janet Yellen said evidence shows "growing up poor makes it harder to succeed as an adult."

A survey by Fed experts shows childhood poverty makes it less likely that people will be employed as adults, and hurts their chances of having stable jobs and adequate incomes.

Yellen says research also underscores the value of investing in workforce habits and skills like mathematics, literacy, teamwork, communication, and the ability to cope with conflict.

She says giving kids a strong foundation will help build a stronger U.S. economy. She urged politicians to carefully consider the impact of proposed policies on the future of children and the nation.

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