In this article, the author discusses the nexus between what educators and a central banker do. At first glance, it might seem as if there is not much commonality. He suggests that what educators do matters to the Fed, and what the Fed does matters to educators, and touches briefly on some of the reasons why. He proposes that as educators and their peers are making admissions, financial aid, and retention-program decisions at their schools, they are powerfully shaping the outcomes for individuals--and society more generally. The author also emphasizes that institutions play an important role in economic development in the communities in which one is located.