Money Talk: Fed Still Intends To Raise Interest Rates In 2015, Maybe

Editor’s note: Each Monday, Talk Business & Politics provides “Money Talk,” a wrap-up of banking and financial news in our email newsletter, which you can sign up to receive daily for free here.

FED STILL INTENDS TO RAISE INTEREST RATES IN 2015, MAYBE …
The Federal Reserve came out of last week’s meeting with the same question that many have been asking for nearly nine years: When will the U.S. economy see its first rate hike since 2006?

According to the Fed’s policy statement release on April 29, U.S. economic growth was slow during the winter and the pace of job growth leveled off. Still, the Fed did signal again that it intends to raise interest rates at any of its future meetings in 2015, and kept open its options for a possible summer rate change if inflation rises toward the current 2% target.

To view the full Federal Open Market Committee (FOMC) statement, click here.

‘PUTTING INVESTORS FIRST’ INITIATIVE TO MEET IN LR THIS WEEK
The Chartered Financial Analyst (CFA) Institute and CFA Society of Arkansas will hold the first “Putting Investors First” panel discussion in Arkansas on Thursday, May 7, from 6 p.m. to 7:30 p.m. at the Chenal Country Club in Little Rock.

The program is part of a nationwide initiative of the financial community introduced in 2014 that is aimed at building awareness of the fiduciary duty to protect investors and promote awareness of best practices in asset management.

As the financial services industry has undergone regulatory and media scrutiny in recent years due to a number of high-profile scandals on and off Wall Street, the Little Rock event will discuss the current ethical mandates and responsibilities, key regulatory issues, and tips for managing and thriving in today’s environment, CFA officials said.

Panelists on this year’s program will include David Woodcock, the regional director the federal Securities and Exchange Commission, based in Ft. Worth, Texas. Local and national CFA members will also participate in the discussion, along with top officials from the Financial Industry Regulatory Authority (FINRA), and the Arkansas Securities Department.

Anyone interested in attending the event can register online here.

FDIC LAUNCHES FREE ONLINE FINANCIAL EDUCATION LESSON PLANS
The Federal Deposit Insurance Corporation (FDIC) recently launched a series of lesson plans for teachers and new resources for parents to help them teach children about managing money.

The “Money Smart for Young People” program provides free resources designed to improve financial education and decision-making skills among young people from pre-K through age 20. The FDIC worked in partnership with the Consumer Financial Protection Bureau (CFPB) to develop the educational tools.

“It is important that financial education begin at a young age so that children can build long-term, positive financial habits,” Chairman Martin J. Gruenberg said. “The new tools released today build on FDIC’s long track record in financial education by involving parents and teachers in a way that helps children build financial capability and take advantage of the opportunities in the banking system to reach their financial goals.”

The program features four curricula tailored for different age groups and abilities, from grades Pre-K-2, 3-5, 6-8, and 9-12. Each curriculum consists of multiple lessons that offer instructors ideas on how to integrate financial education instruction into subjects such as math, English, and social studies.

Teachers can access this curriculum and videos that demonstrate how financial education concepts can be taught in the classroom at www.fdic.gov/teachers. The parent/caregiver guides are available through www.consumerfinance.gov/parents, a website developed by the FDIC and CFPB.

SIMMONS FIRST TO ACQUIRE OZARK TRUST & INVESTMENT OF SPRINGFIELD, MISSOURI
Pine Bluff-based Simmons First said it has entered into “a definitive agreement and plan of merger” with Ozark Trust and Investment Corp., which is headquartered in Springfield, Missouri. In a release announcing the deal, Simmons said it will acquire all of the outstanding stock of Ozark Trust and Investment in a cash and stock transaction valued at roughly $20.7 million.