; population growth within texas has compounded over the past two decades by 2 percent per annum, versus 1. 1 percent for the rest of the nation. we now have the second - largest congressional delegation in the country behind california. but the growth dynamic here is vibrant, whereas that of california is stagnant. this is why we are picking up population and congressional seats, while the recent u. s. census apportioned no additional seats to california. in sum, we are a vibrant and strong economy. the economic tenor in california and the rest of america is weary, if not downright weak : somos fuerte ; los otros son flojos. since the recent economic recession ended, texas has been responsible for 48 percent of all the jobs created in america. and yet, the hispanic population is not participating in our economic prosperity in proportion to its weight in the texas census. bis central bankers ’ speeches the unemployment rate among latinos here is substantially higher than it is for non - hispanic texans. hispanics earn 36 percent less in hourly wages than non - hispanic whites ; median household income of latino - headed households in texas is about 60 percent of median household income of non - hispanic households. for the u. s. as a whole, latino - headed households earn about 73 percent of non - hispanic white household income. pia orrenius and our other economists are hard at work in deciphering what accounts for the differences between the economic status of texas hispanics and latinos elsewhere in the u. s. already, one factor is clear : hispanic educational achievement in texas is abysmal. in texas, as anywhere else in the united states and in all capitalist societies, “ you earn what you learn. ” every study known to man, and plain common sense, tell you that income is directly correlated to educational attainment. high school graduates earn significantly more than high school dropouts ; a college degree results in greater lifetime earnings than a high school degree ; the highest income groups are those with graduate degrees. nearly 50 percent of texas public schoolchildren are hispanic, but only 38 percent of high school graduates are hispanic. some 54 percent of non - hispanic whites and 48 percent of non - hispanic blacks age 18 to 24 with a high school degree were in college in 2008. the percentage of hispanics was only 43 percent. within the age cohort between 25 and 64, only 14 percent of native - born texas latinos have college degrees ; 23 percent of

became the basis for the green revolution that he started in mexico and that ended up feeding billions of people around the world. well, i think by now you know that the boy i ’ m speaking of is me. i may be the only central banker on the planet whose little league baseball coach went on to win the nobel peace prize! my fondest childhood memories are from mexico. small wonder that i delighted when president clinton asked me to become deputy u. s. trade representative and help implement nafta – even if it meant matching wits with formidable negotiators like luis de la calle and herminio blanco! small wonder that as president of the federal reserve bank of dallas, i have delighted in working closely with guillermo ortiz and agustin carstens. small wonder that at meetings of the federal open market committee or in u. s. banking circles, i have often argued mexico ’ s case. or taken sheer pleasure in pointing out to u. s. congressmen and senators, and in speeches and media interviews, that the mexican government – unlike my own government – actually can agree on a budget, keep deficits under control, bring about structural change and resist interfering with the workings of an independent central bank. bis central bankers ’ speeches i am full of pride for mexico. i am full of pride that this country, the country of my happiest childhood years, would now choose to honor me with the order of the aztec eagle. the citation for this honor speaks of my being a fierce defender of price stability. in the parlance of central banking, i am referred to as a “ hawk. ” well, it may not surprise you to learn that taxonomists place the eagle and the hawk in the same bird family. so, secretary meade, secretary videgaray and dear friend agustin, i accept this thoughtful honor from the president of the country i love so much with hawkish pride and close kinship to the golden eagle that is the symbol of mexico. ¡ viva mexico! thank you. bis central bankers ’ speeches