Exploring Baby Bonds as a Tool to Improve Economic Security

On Tuesday, September 27, the Federal Reserve Bank of New York, in partnership with the Office of the State Treasurer for Connecticut and the Institute on Race, Power and Political Economy at The New School will host an in-person event on the intersection of baby bonds with health, wealth, housing, and education.

Baby bonds are an innovative policy tool that provides children with publicly funded investment accounts that can be accessed at age 18 for specific uses, including education, homeownership, small business, and retirement. The funds are intended as a long-term investment designed to narrow the wealth gap and address generational poverty. As of 2022, eight states and Washington, D.C. have passed legislation to introduce baby bonds programs and supportive strategies that improve economic security.

The event will feature Connecticut State Treasurer Shawn T. Wooden and Dr. Darrick Hamilton, founding director of the Institute on Race, Power and Political Economy at The New School, and a conversation on the benefits and challenges of baby bonds programs and effective strategies to link the bonds to other efforts addressing generational poverty.

This in-person event is open to the public and the media. All remarks are on the record and the event will be recorded. The recording will be made available afterwards. For media inquiries, please contact Ellen Simon at Ellen.Simon@ny.frb.org.

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