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06/2/2017 | Building a National Campaign for a Strong Economy: Fed Up

Fed Up Campaign Meets with Fed Chair Janet Yellen

On May 22, the Fed Up Coalition met with the Chair and Vice-Chair of the Federal Reserve, Janet Yellen and Stanley Fischer, two of the most powerful economic policy makers in the country. Members from TOP, MORE, NYCC, MRNY, SPACEs, OnePA, Action NC, and NOC, came together to tell the Fed that the economic recovery was incomplete, and that the Fed was under threat from the Trump administration.

Paola Angel of MRNY, let Yellen know that, despite our disagreements, we recognized Yellen's massive contributions towards creating jobs and lifting us out of the depths of the great recession. She said, "your pursuit of full employment, and attention to racial and economic inequality has made it easier for me to pay the rent and and put food on my table. I live a more dignified life because of the work that you have done." Rod Adams from NOC delivered 20,000 petition signatures asking Chair Yellen to stay as Chairperson and not leaving her job for a Trump appointee.

The coalition also pushed Chair Yellen on diversity in the Federal Reserve's governance and leadership, and demanded that the Fed re-examine the arbitrary 2% inflation target that is used to justify slowing the economy down. Chair Yellen seemed to be very moved and impacted by our members' messages, and it is rare that anyone -- let alone low-income people of color -- get such access to impact the thinking of the powerful Chair of the Federal Reserve. Next, we will be working on actions in DC, Philadelphia, and New York to fight against possible interest rate hikes in June that could potentially slow down employment and worker power in our communities! You can receive regular updates from the Fed Up campaign by liking them on Facebook here.