Sharpening skills, taking classes and pursuing other educational ventures can help Americans make better choices — financial or otherwise — in an increasingly complex economy, Federal Reserve Chairman Ben Bernanke said Tuesday.

"Education is vital to our prosperity," Bernanke, a former economics professor, said in prepared remarks to a conference of historically black colleges and universities gathered here.

Bernanke, in his speech, did not talk about the Fed's direction on interest rates, economic or financial conditions or the government's bailout, announced Sunday, of mortgage giants Fannie Mae and Freddie Mac.

The Fed is widely expected to hold a key interest rate steady at 2 percent when it meets next Tuesday. The country is struggling with slow growth and higher inflation. Given the fragile state of the economy, the Fed probably won't start to boost rates to fend off inflation until next year. The Fed in June halted an aggressive rate-cutting campaign out of fears it would aggravate inflation.

On the education front, Bernanke, who is married to a teacher, said lifelong learning is important to personal growth and can help advance productivity, a key to boosting living standards.

"As our economy becomes more and more technologically advanced and globally interconnected, the skills, knowledge and analytical ability that education develops are becoming ever more crucial to each individual's success," he said.