Group of Lawmakers Says Fed Fails to Diversify Leadership
Group of Lawmakers Says Fed Fails to Diversify Leadership
A group of Democratic senators and House members complained Thursday that the Federal Reserve has failed to meet its obligation to build a diverse leadership that includes enough women and...
A group of Democratic senators and House members complained Thursday that the Federal Reserve has failed to meet its obligation to build a diverse leadership that includes enough women and minorities, and it wants Chair Janet Yellen to remedy the issue.
The lawmakers said a more inclusive leadership that properly reflects gender, race, ethnicity, occupation and economic background is needed to ensure fairness in Fed policy.
The Democratic lawmakers — 11 senators and 116 in the House — expressed their concerns in a letter to Yellen. The Fed's leadership "remains overwhelmingly and disproportionately white and male," they wrote.
In its search for directors who oversee the Fed's 12 regional banks for terms next year, the Fed's board of governors should cast a wider net for African American, Latino and female candidates, as well as qualified people from labor, consumer and community organizations, the lawmakers told Yellen.
A Fed spokesman, David Skidmore, responded that the central bank is "committed to fostering diversity — by race, ethnicity, gender and professional background — within its leadership ranks."
"We have focused considerable attention in recent years on recruiting directors with diverse backgrounds and experiences," Skidmore said. "By law, we consider the interests of agriculture, commerce, industry, services, labor and consumers. We also are aiming to increase ethnic and gender diversity."
The senators signing the letter include Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont, who is challenging front-runner Hillary Clinton for the Democratic presidential nomination. Warren and Sanders are the most outspoken Democratic critics on economic and financial issues.
The 116 House members, representing more than half the 188 Democrats in the House, are led by Rep. John Conyers of Michigan, the senior Democrat on the Judiciary Committee.
The letter cites data from the Center for Popular Democracy, a liberal advocacy group. The data indicates that 83 percent of the directors who supervise the Fed's regional banks are white and that nearly three-quarters of them are men. All the members of the Fed's committee that sets interest-rate policy are white, and 60 percent are men.
The Fed counters that the proportion of minority directors on the boards of its regional banks and their branches has risen from 16 percent in 2010 to 24 percent this year, and that the proportion of female directors has increased from 23 percent to 30 percent. Forty-six percent of the directors represent diversity in race and-or gender, the Fed said.
"We are striving to continue that progress," Skidmore said.
The data cited in the congressional letter do not include directors of the regional banks' branches, only the banks themselves.
On Thursday, Clinton's campaign said she shares the lawmakers' concerns. A spokesman, Jesse Ferguson, said Clinton thinks "the Fed needs to be more representative of America as a whole." She also believes there no longer should be three private-sector bankers sitting on each regional Fed bank board, Ferguson said.
That change would require new legislation.
Yellen, the first woman to lead the central bank in its 100-plus-year history, has stressed in her public statements the importance of overcoming economic inequality.
The five current Fed governors are white. Two, including Yellen, are women.
By MARCY GORDON
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Downtown Protest Held Over Racial Disparity in Employment
KMOV St. Louis - March 5, 2015, by Steve Savard - About 12 people rallied outside the Federal Reserve Bank of St. Louis Thursday to protest the racial disparity in employment in the St. Louis...
KMOV St. Louis - March 5, 2015, by Steve Savard - About 12 people rallied outside the Federal Reserve Bank of St. Louis Thursday to protest the racial disparity in employment in the St. Louis region.
White unemployment in the St. Louis area is 5.7 percent, African American unemployment is 14.1 percent. Organizers said they want the Fed to adopt policies focused on getting more people get back to work.
“It’s not easy getting a job, when you are qualified even when you look the part,” one demonstrator said.
Organizers said the story of one attendee demonstrates the problem.
“When you do get the job, it’s something to get you buy, but it’s not a livable wage,” Ray Rounds said.
Rounds said he left a low paying job to go back to school at the Green Technology Training Program at St. Louis University.
“I’m certified in lead remediation, mold, asbestos, permit required confined spaces, hazardous material. I’ve got 17 of those certificates I was really proud of and I was ready to go to work,” Rounds said.
Rounds said he has not been able to land a job in the two years since he finished school.
“It’s pretty frustrating because with all I thought that I had accomplished. It’s meaningless because there are no jobs,” Rounds said.
Rounds has been attending rallies, working with churches and other organizations to try and make a difference. He hopes the contacts he has made will help him land a job.
Demonstrators also said they want to see more diversity on the Federal Reserve Board.
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Already Low Wages Fell Further in February
03.04.2016
Derek Laney, Co-Director of Missourians Organizing for Reform and Empowerment, released the following statement on behalf of the Fed Up coalition:
...03.04.2016
Derek Laney, Co-Director of Missourians Organizing for Reform and Empowerment, released the following statement on behalf of the Fed Up coalition:
“Although the US economy added jobs last month, economic activity slowed in cities like my hometown of St. Louis. Too many workers here and elsewhere are still waiting to benefit from a sluggish economic recovery.
In December, the Fed ignored the voices of our coalition and the advice of many economists by voting to slow down the economy. We are seeing the consequences. Today’s jobs report showed that wages, which were already too low, fell further last month.
Low- and middle-income families, particularly in Black and Latino communities, know that our economy is still far too weak. There aren’t enough good jobs to go around, and millions of people are still struggling to get the hours and wages that they need. The Fed needs to pay attention to the data and pay attention to the voices of the American public. It must do all it can to let our wages grow."
www.whatrecovery.com
### Fed Up is a coalition of community organizations and labor unions across the country, campaigning for the Federal Reserve to adopt pro-worker policies for the rest of us. The Fed can keep interest rates low, give the economy a fair chance to recover, and prioritize full employment and rising wages.
The Center for Popular Democracy promotes equity, opportunity, and a dynamic democracy in partnership with innovative base-building organizations, organizing networks and alliances, and progressive unions across the country. CPD builds the strength and capacity of democratic organizations to envision and advance a pro-worker, pro-immigrant, racial justice agenda.
Media Contacts:
Anita Jain, ajain@populardemocracy.org, 347-636-9761
Sofie Tholl, stholl@populardemocracy.org, 646-509-5558
In The Fight For Racial Justice, We Cannot Overlook The Climate Crisis
In The Fight For Racial Justice, We Cannot Overlook The Climate Crisis
"From increases in severe weather such as hurricanes and droughts, to the toxins that are poisoning our soil, air and water, the human impact of the worsening climate crisis is undeniable. Also...
"From increases in severe weather such as hurricanes and droughts, to the toxins that are poisoning our soil, air and water, the human impact of the worsening climate crisis is undeniable. Also undeniable is the disparate impact the effects of the climate crisis have on low income communities and communities of color. We know that the poisoned children and families of Flint, Michigan still have no clean water more than three years after the corrupt and willful negligence of their state government was exposed. A decade after Hurricane Katrina, the residents of the Gulf Coast are still trying to put their lives together. In California, farmers and farm workers alike have lost income and in some cases their entire livelihoods thanks to the drought that plagued the state for the past few years."
Read full article here.
I'm a Puerto Rican refugee from Hurricane Maria. Here's why I care about the Pa. midterm
I'm a Puerto Rican refugee from Hurricane Maria. Here's why I care about the Pa. midterm
"I am a hurricane Maria survivor who now calls the state of Pennsylvania my home...Without support from the federal government, I am grateful for the assistance of grassroots organizations and...
"I am a hurricane Maria survivor who now calls the state of Pennsylvania my home...Without support from the federal government, I am grateful for the assistance of grassroots organizations and nonprofits like CASA and CASA in Action, affiliates of the Center for Popular Democracy...I am now proud to work with CASA in action, canvassing and energizing voters. It is empowering to knock on doors and connect with other Latinos and long time residents who came to Pennsylvania before me. They understand that it is our duty as a community to come together and send a strong message that we are here and that we vote too."
Read the full article here.
Minimum wage going up
Voters have decided it’s time to give Colorado’s minimum-wage workers a long-overdue raise.
Amendment 70, a measure that would increase Colorado’s minimum wage to $12 an hour by 2020, was...
Voters have decided it’s time to give Colorado’s minimum-wage workers a long-overdue raise.
Amendment 70, a measure that would increase Colorado’s minimum wage to $12 an hour by 2020, was passing by a 10-percent margin. Minimum wage in the state is now $8.31 an hour.
With 25 of 64 counties reporting, the vote-count as of this posting was 55 percent yes to 45 percent no.
In a crowded, jubilant second-floor conference room at the Westin Downtown, a group of minimum wage earners, business owners and advocates celebrated.
“Amendment is going to help our local economy,” said Edwin Zoe, proprietor of restaurant Zoe Ma Ma. “When low income workers do well, we all do well.”
The amendment alters the state constitution to increase the minimum wage by yearly 90-cent increments until it reaches $12 in 2020. In 2020, it will be fixed at $12, except for yearly adjustments to account for inflation.
Who pushed it over the finish line?
Supporters of the increase coalesced in mid-2016 into a group called Colorado Families for a Fair Wage, a coalition of unions, economic justice advocates and progressive policy analysts. Many of them had been part of an informal consortium of anti-poverty groups called The Everyone Economy that came together to strategize about raising the minimum wage back in February 2014. Partnering with Democratic legislators, they advocated for a pair of bills in the 2015 legislative session to help low-wage workers. One would have allowed municipalities to set their own minimums, and the other would have created a ballot measure to reach a $12.50 per hour minimum by 2020. Republicans killed both bills in the Senate.
Democrats floated another bill in 2016 to allow cities to set their own minimum wages, which met the same fate as its predecessors. After that, Everyone Economy members decided they had no recourse but to pursue a ballot measure themselves and formed Colorado Families for a Fair Wage.
What does it mean that it passed?
The work is just beginning for Colorado labor unions and low-wage worker advocates. Most CFFW members acknowledge that $12 per hour is not in fact a living wage for workers with families in some parts of Colorado. Most estimates put a living wage for a single parent of two children in Denver at around $30 per hour. But advocates also believe that the current $8.31 per hour is inexcusable, and any more than $12 was not politically viable this time around.
But for some, the increase means a change in their lives. April Medina currently makes $11 per hour in assisted living. She works 60-70 hours per week, leaving very little time to spend with her four children. She brought her 9-year-old daughter, Jasmine, to the Westin Downtown to celebrate Amendment 70’s passage.
Medina said she was thrilled by the news.
“I’m excited to go to some basketball games,” Medina said.
How much firepower was against it?
Keep Colorado Working had a slower start raising funds, but raised $1.7 million in the last reporting period. It has spent just under $1.4 million as of the most recent campaign finance filings, primarily on television advertising and consultants. About half of its funds ($650,000) come from the Alexandria, Virginia-based Workforce Fairness Institute. It has also gotten $525,000 from Colorado Citizens Protecting Our Constitution, a committee that has donated hefty sums to pro-fracking campaigns and to a 2013 effort to recall legislators who had passed gun-control legislation.
CCFW outraised its rivals almost 3 to 1, raising about $5.3 million in donations, much of it from out-of-state groups like its largest donor, the Center for Popular Democracy, which has kicked in over $1 million. Its second-largest donor is the Palo Alto-based Fairness Project, which has contributed over $960,000 to CFFW and is also supporting minimum wage ballot measures in Maine, Arizona and Washington, D.C.
Keep Colorado Working wants to make sure you know that some of CFFW’s donors are not from Colorado. Virtually all of its communications use the terms “wealthy out of state special interests” liberally.
According to the most recent campaign finance filings, CFFW has spent $4.6 million on television and digital advertising, outreach efforts like canvassing and hosting events, mailers, polling and research.
By Eliza Carter
Source
Jersey City Could Be Next To Guarantee Workers Paid Sick Days
ThinkProgress - September 4, 2013, by Bryce Covert - Jersey City, NJ Mayor Steven Fulop (D) is pushing a bill that would require most businesses to offer workers paid sick days. Employers with 10...
ThinkProgress - September 4, 2013, by Bryce Covert - Jersey City, NJ Mayor Steven Fulop (D) is pushing a bill that would require most businesses to offer workers paid sick days. Employers with 10 or more workers would have to provide up to five paid sick days a year, and workers would earn a day off for each 30 days they work.
Fulop will propose his bill to the City Council next week, where it is thought to have good chances of passing given that the majority of the members are aligned with him. He has called such a law a matter of “basic human dignity.”
If the bill passes, Jersey City would join New York City; Portland, OR; San Francisco, CA; Seattle, WA; and Washington, DC as cities that guarantee paid sick days, as well as the state of Connecticut. A statewide push in New Jersey to have such a law cover the entire state began with a bill that was introduced in the spring. Massachusetts is also fighting for such a law.
Across the country, 40 percent of private sector workers, including 80 percent of low-income workers, don’t have access to paid sick days. While opponents of such legislation usually claim that it will add too much of a financial burden on businesses, research has shown that the opposite is true. Washington, DC’s law has had no negative impact on business. San Francisco’s had little negative effect and strong business support, while it was even found to have spurred job growth. Connecticut’s has come with little cost andhuge potential upsides. On the other hand, lost productivity due to sick workers who can’t take days off costs the average employer $225 per employee per year.
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The financial reality facing America's 16 million retail workers
The financial reality facing America's 16 million retail workers
Shaheim Wright's house is falling apart. It's infested with bedbugs. The washing machine is broken. He needs a new sink. Oh, and there's the crack in the bathtub.
"It's leaking out, and...
Shaheim Wright's house is falling apart. It's infested with bedbugs. The washing machine is broken. He needs a new sink. Oh, and there's the crack in the bathtub.
"It's leaking out, and right near my door is a wet spot from water coming down," Wright said. "And it's like, well I can't pay for any of this."
Read the full article here.
Report: Starbucks Scheduling Problems Remain Despite 2014 Pledge
Starbucks officials asked store managers to "go the extra mile" to improve employee scheduling in...
Starbucks officials asked store managers to "go the extra mile" to improve employee scheduling in the aftermath of a scathing report issued by an advocacy group this week.
The nonprofit Center for Popular Democracy alleged that the company largely failed to deliver on its promises to alter scheduling practices in 2014.
More than a year ago, a New York Times report chronicled the havoc wreaked on Starbucks' baristas by its sophisticated scheduling technology.
In response, the coffeehouse giant vowed to establish more consistent hours, provide more notice regarding schedules and prevent workers who close stores from having to reopen again just hours later.
According to the CPD report, however, nearly half of 200 employees surveyed reported receiving schedules with one week or less of notice.
Employees also said that although schedules generally followed the previous week's pattern, dramatic fluctuations could happen in any week.
One in four respondents, meanwhile, said that either they or their coworkers still were scheduled to "clopen" stores.
"Many Starbucks scheduling policies fail to reflect the company’s human-focused values, while other policies designed to promote sustainable schedules have been implemented inconsistently," the group wrote in the report.
Company spokeswoman Jamie Riley told the Times this week that the CPD report "doesn’t align with what we’re seeing," but that the company is "the first to admit we have work to do."
Meanwhile, Cliff Burrows, Starbucks’ U.S. chief, responded with a memo to store managers calling for a "consistent schedule — free of back-to-back close and open shifts that are less than 8 hours apart — that is posted 2 weeks in advance."
Source: Manufacturing.net
Nine Months After Hurricane Maria, Congress Isn't Doing Much to Help
If a commission discovered “any wrongdoing, any corruption, any malice in that corruption,” added Julio Lopez Varona of the Center for Popular Democracy’s Puerto Rico programs, “then people should...
If a commission discovered “any wrongdoing, any corruption, any malice in that corruption,” added Julio Lopez Varona of the Center for Popular Democracy’s Puerto Rico programs, “then people should go to jail.” In his view that includes not just federal officials but local Puerto Rican officials, some of whom have come under fire for mismanaging the disaster and recovery. But Mark-Viverito notes that it is far too early to think about how to enact punishments on individuals.
1 day ago
8 days ago