Federal Reserve Chairman Remarks Deserve National Attention

In a rare interview, Federal Reserve Board Chairman, Jerome Powell, sounded an alarm about the crisis facing young men in the U.S. The solution to this crisis lies in the President’s creation of a White House Council For Boys and Men. In his 60 Minutes interview, Powell tied the crisis facing our young men to several factors. The proposed council could address these factors in a comprehensive and results-oriented fashion. From the transcript:

PELLEY: You mentioned the opioid crisis. It’s that big a problem in the labor force?

POWELL: Yes, it is. The opioid crisis is millions of people. They tend to be young males. And it’s a very significant problem. And it’s part of a larger picture of low labor force participation, particularly by young males. …

PELLEY: What is the biggest threat to American prosperity that no one is talking about?

POWELL: That no one is talking about? … I would point to our longer-run challenges. And I would like to see a stronger national focus on, for example, labor force participation. There are plenty of prime-aged people who are not in the labor force and who would be better off in the labor force. And I’d like to see us find policies that can support and reward work, provide training and education, and generally try to raise U.S. labor force participation so that we’re no longer at the bottom of the league table among advanced economies.

Fed Chair Powell has identified the crisis of young American males as one of the biggest threats to America’s economic future. 

Who and What: A multi-partisan Coalition of 35 nationally-known scholars and practitioners request that President Trump create a White House Council on Boys and Men.

Why: Our nation is suffering a crisis of boys and men. The Coalition identifies five components:

 Education: Nationwide, boys are 50 percent less likely than girls to meet basic proficiency in reading, math and science. Yet male teachers, and vocational education—both associated with better outcomes for boys—receive inadequate support.

Jobs: Cut-backs in vocational education leave boys who are not academically inclined unemployed. Japan’s vocational programs result in 99.6% employment. More than 90% of mass shooters, ISIS recruits, and male criminals were dad-deprived boys.

Fatherlessness: A third of boys are raised in father-absent homes; yet boys and girls with significant father involvement do better in more than 70 areas.

Physical health: In 1920, American males lived only one year less than females; today, five years less.  Yet we have no federal office to deal with the public health crisis of boys and men.

Emotional health: Between ages 13 and 20, the suicide rate is five times greater among boys than girls.

Each of the five crisis components is potentially handled by a different department of the government; therefore, the crisis is not prioritized and proposed remedies are nonexistent or inadequate, most importantly, no coordinated effort exists. Short-Term Investment/ Long-TermSavings: Financial benefits: about a trillion dollars per year.  Society benefits: dramatically reducing boys’ and men’s vulnerability to joining terrorist groups, committing mass shootings, and becoming criminals. Quality-of-Life Benefits: Priceless.

Contact:

Chair: Warren Farrell, PhD warren@warrenfarrell.com

Steering Committee Treasurer: Philip W.  Cook thewhitehousecouncil@gmail