In a speech at the 2008 National Historically Black Colleges and Universities Week Conference in Washington, DC on Tuesday, Fed Chairman Ben Bernnake made no comments on monetary policy or the U.S. economy, focusing rather on the importance of educational institutions which played a historical role in the education of African-Americans.
"In general, higher education is one of the strong points of the U.S. educational system," Bernanke said. "We must work diligently to maintain the quality of our educational system where it is strong and strive to improve it where it is not."
Bernanke went on to praise the progress made in making higher education available to African Americans, and highlighted the importance of continuing to increase its accessibility.
By Erik Kevin Franco and edited by Nancy Girgis
©CEP News Ltd. 2008