CPD In The News
Shawn Sebastian, field director of Fed Up, a campaign by labor, community and liberal activist groups that wants the Fed to enact pro-worker policies, said the choice of Williams damaged the Fed’s legitimacy and credibility.“Today, the Federal Reserve concluded another opaque and controversial Re
"Today, the Federal Reserve concluded another opaque and controversial Reserve Bank presidential selection process by ignoring the demands of the public and choosing yet another white man whose record on Wall Street regulation and full employment raises serious questions,” said Shawn Sebastian, F
"We hope that John Williams's tenure as president will not be characterized by the same disregard for the public as his appointment was." -- Fed Up, a coalition of progressive non-profits focused on reshaping the central bank.
Progressive groups seized on Mr. Dudley’s retirement as a rare opportunity to influence an economic policy appointment that is outside Mr. Trump’s control. Protesters marched on the bank’s Lower Manhattan headquarters last month to demand a president who would represent working people.
But Shawn Sebastian, director of the Fed Up Coalition, a collection of liberal groups, said the New York Fed search process had failed in its job to offer diverse candidates.
In addition to Wallace-Gobern, panelists will include Alvina Yeh, executive director of the Asian Pacific Labor Alliance; Tracey Corder, director of the Racial Justice Campaign at the Center for Popular Democracy; and Jeremiah Edmond, president of G.A.M.E. Local 101.
“I’m judging John Williams based on the last several years of him being wrong about the levels of maximum employment and pushing for additional [interest rate hikes] prematurely because that mistake puts millions of jobs at risk,” said Shawn Sebastian, who co-leads the Fed Up coalition comprising
Ady Barkan was given 2-3 years to live after being diagnosed with ALS — but that isn't stopping him from living life to the fullest.
A longtime organizer, Barkan — who has Lou Gehrig’s disease — gained national recognition after his viral confrontation of Sen. Jeff Flake, R-Ariz., over his support for the Republican tax plan and the cuts to Medicare that it would impose.
“Some campaigners are critical of the Fed’s handling of the mis-selling scandal at Wells Fargo, which is headquartered in Mr Williams’s district, while activists with the Fed Up group want the New York Fed to restart its search.
