Citi CEO: Financial Literacy Crucial to Economic Confidence
*By Alisha Haridasani*
If Citigroup CEO Mike Corbat had it his way, school children would be learning finance alongside history, science, geography, and math.
“Years ago, they taught different courses in terms of finance in school. Today, you go to most schools and no one will tell you how to balance your bank account or what it’s like to fill out a loan application,” he said in an interview with Cheddar on Thursday.
The lack of elementary financial understanding at an early age leads to intimidation of the industry, said Corbat.
Only eight percent of U.S. millennials polled in a recent [survey](https://www.cnbc.com/2017/02/14/millennials-arent-as-smart-about-money-as-they-think.html) had a high level of financial know-how, and only 24 percent had a basic understanding.
“The sooner we can get people thinking about these things...the better,” said Corbat.
For the full interview, [click here](https://cheddar.com/videos/citi-ceo-talks-why-wall-street-matters-trade-tensions-and-immigration).
Fintech pioneer Tom Sosnoff discusses the evolution of retail investing, the rise of AI, and his new platform Lossdog aimed at the next generation of trading.
The FAA prepares to select cities for its eVTOL pilot program, marking a major step toward electric air taxis and the future of urban air mobility in the U.S.
Rising oil prices tied to the Iran conflict are driving up gas and airfare costs, creating new challenges for travelers heading into the spring break season.
The Supreme Court strikes down Trump-era tariffs, limiting presidential trade powers and raising questions about refunds, global trade, and business impact.
New research from GoDaddy and UCLA shows small businesses signal shifts in GDP, jobs, and digital growth earlier than traditional data or Wall Street trends.
GoFundMe launches Back in Business Fund with Paris Hilton to provide targeted grants helping women entrepreneurs recover and rebuild after natural disasters.
Samsung launches its “AI in Action Lab” in NYC, giving public high school students hands-on AI experience and tools to prepare for real world innovations.
Gen Z workers are increasingly worried AI could replace their jobs. However, experts say companies are using AI more to assist workers than replace them.
