In an effort to help to determine the economic impact of higher education institutions and hospitals within their regions and how reliant these regions are on these “anchor institutions” to drive their economy, the Federal Reserve Bank of Philadelphia developed an Anchor Economy Initiative. It recently published an
Although Americans perceptions on the economy dipped late last year, their financial well-being increased and hit its highest level since 2013, when the Board of Governors of the Federal Reserve System survey began. The results of the latest wide-ranging survey, reported in the Economic Well-Being of U.S.
While the income benefits of a college education receive frequent attention, a recent article from the Federal Reserve Bank of St. Louis highlights the importance of a college degree for wealth accumulation. The average wealth for a college-educated household has tripled since the 1970s, while wealth for households without degrees have remained stagnant. These divergent trends in economic well-being are further evidence of the growing inequality among Americans, and the rising importance of education to staying ahead of this divide.