Boosting economy from infancy


Imagine this scenario: a variety of “teams” aggressively competing to recruit hot prospects barely out of diapers.

Sounds like a kiddie NFL football draft. It’s not. It’s roughly my take of Arthur Rolnick’s designs on how best to invest in and develop Minnesota’s and America’s future work force.

“I believe your vision of it is correct,” Rolnick said as he took a phone break last week from a federal open market committee meeting in Washington.

Deciding federal interest rates is part of what Rolnick does for a living as senior vice president and director of research for the Federal Reserve Bank of Minneapolis. Some of his research involves a study of pre-Civil War banking.

But it’s what he came up with four years ago and last year that just might leave an indelible mark on society.