A project to make the financial news understandable
News media report about the spike in inflation and central bank meetings. But what does it mean? News agency Associated Press is launching a two-year project producing financial explainers to “spread personal finance knowledge to audiences historically underserved by the financial services industry.”
The idea is that a financial literacy beat team will help reach a younger, less affluent, and racially and ethnically diverse groups — including people of colour, Spanish speakers, and middle and lower-income households.
The team will produce personal finance journalism in words, visuals and graphics, and in multiple languages.
“There is a crisis of financial illiteracy in the US that is taking place against a backdrop of widening wealth inequality,” said Noreen Gillespie, AP global business editor.
“As government programs that bolstered Americans’ finances during the pandemic begin to fade away, many vulnerable individuals are likely to experience fresh challenges. Now more than ever, it is paramount for AP to build a team dedicated to personal finance journalism that speaks to a truly diverse audience.”
“Financial literacy is a critical life skill that everyone needs, yet too many people in our country don’t have access to the tools and education they need to make smart money decisions,” said Charles Schwab Foundation President Carrie Schwab-Pomerantz.
The project is supported by Charles Schwab Foundation, a private foundation that is separate from The Charles Schwab Corporation. AP stressed it retains complete editorial control of all content.
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