Rob Grunewald is with the Federal Reserve Bank of Minnesota. He discusses why the Federal Reserve, the nation’s central bank, is interested in early childhood development. Research shows that early childhood education has a strong rate of return on investment. How do economists quantify the rate of return? Research shows that children who attend high-quality prekindergarten programs are less likely to start kindergarten behind, need special education, repeat a grade and are more likely to graduate from high school. Also, research is showing there could potentially be economic benefits of investing the time and money to build early childhood social skills in high-quality early learning programs. In his response to the question Rob sites study information from the HighScope Perry Preschool program.