In the fall of 2008, the Federal Reserve Banks of Atlanta and St. Louis began a systematic evaluation of their economic and personal finance educational outreach programs. Both banks were interested in developing tools to assess the success of their existing economic and financial education programs. However, before any assessment could begin, a fundamental question had to be addressed: What do the banks want educators and students to know? To answer this question, the assessment team decided to develop a set of standards to guide the banks' programs. The group quickly realized that more than one set of standards were necessary to guide all of the banks' programs, which tend to fall into one of three categories: (1) the Federal Reserve System; (2) personal finance; and (3) general economics. Two new sets of education standards were developed. One covers the banks' programs about the Federal Reserve System, and the other covers personal finance. These newly created educational standards can guide teachers in developing citizens who are knowledgeable about the Fed and its role in financial system and market economy. This article introduces the "Educational Standards for Teaching about the Federal Reserve System"--the first attempt to develop standards outlining the knowledge that teachers and students need in order to understand the Federal Reserve. "The Educational Standards for Teaching about the Federal Reserve System" consists of 15 statements. To organize the standards, the 15 statements are grouped into seven broad areas. The authors briefly describe and discuss these seven areas. (Contains 10 notes.)