Janet Yellen To Jobless African-Americans: You're On Your Own
Federal Reserve Chair Janet Yellen told members of the House of Representatives in a hearing on Wednesday that the Fed's concerns about inflation limit its ability to address high African-American...
Federal Reserve Chair Janet Yellen told members of the House of Representatives in a hearing on Wednesday that the Fed's concerns about inflation limit its ability to address high African-American unemployment.
“So, there really isn’t anything directly the Federal Reserve can do to affect the structure of unemployment across groups,” Yellen said during the House Financial Services Committee’s semiannual hearing on Federal Reserve policy. “And unfortunately, it’s long been the case that African-American unemployment rates tend to be higher than those on average in the nation as a whole.”
The African-American unemployment rate was 9.5 percent in June, nearly twice the rate of 5.3 percent in the population overall.
But Yellen said that the Fed’s ability to address this problem was limited by its commitment to keeping inflation under 2 percent.
Yellen’s remarks were in response to a question posed by Rep. Joyce Beatty (D-Ohio) as to whether the Fed was taking the high rate of African-American unemployment into account when assessing the health of the labor market. Beatty was one of several African-American committee members, including ranking member Rep. Maxine Waters (D-Calif.), who enjoined Yellen to consider the disproportionately high rate of African-American unemployment in deciding when to raise interest rates.
At the hearing, Yellen reaffirmed the Fed’s previous indications that it would raise interest rates before the year’s end. "If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate," Yellen said in her prepared testimony.
Maintaining price stability is one-half of the Fed’s dual mandate, together with maximizing employment. If the Fed prints more money, it spurs higher employment, ultimately putting upward pressure on prices. If it tightens the monetary supply, by raising interest rates, it keeps prices low, but also depresses employment.
Many progressive economists and activists fault the Fed for continuing to prioritize the inflation part of its dual mandate at the expense of full employment. It is a tendency they say disproportionately affects African-Americans, who already suffer from high unemployment and discrimination in the job market.
Jordan Haedtler, deputy campaign manager of the Center for Popular Democracy’s Fed Up campaign, which mobilizes communities of color for pro-employment Fed policy, said that Yellen’s Wednesday remarks are a reflection of this approach.
“It is indicative of the Fed’s continued emphasis on inflation even in the face of nonexistent inflation,” Haedtler said. “They are myopically focused on one portion of their dual mandate while ignoring another. If the Fed is saying that the economy is on enough of a positive trajectory to raise rates, they are saying they are OK with 9.5 percent black unemployment.”
The Fed Up campaign wants the Federal Reserve to wait for more significant wage growth before raising rates.
It is also encouraging regional Federal Reserve banks, along with Fannie Mae and Freddie Mac, to sell homes with delinquent mortgages to nonprofit organizations that are more likely to refurbish them. Currently, Fed Up claims, the homes often go to for-profit buyers who leave them in disrepair, limiting the economic recovery in many urban communities of color.
Source: Huffington Post
After minimum wage changes, Bay Area workers push for ‘fair’ scheduling
After minimum wage changes, Bay Area workers push for ‘fair’ scheduling
As cities all over the state have raised their minimum wages in recent years, labor advocates in the Bay Area are turning to what they see as another piece of the puzzle for improving workers’...
As cities all over the state have raised their minimum wages in recent years, labor advocates in the Bay Area are turning to what they see as another piece of the puzzle for improving workers’ lives: scheduling.
From ensuring workers get the full-time hours they desire, to preventing retaliation against them for turning down last-minute schedule changes, several initiatives are aimed at making employees’ schedules more stable and reducing underemployment.
“Now, it’s about getting fair wages and fair hours,” said Jennifer Lin, deputy director of the East Bay Alliance for a Sustainable Economy (EBASE).
Business interests have railed against the idea of regulating scheduling across diverse sectors, and warn of unintended consequences that could actually hurt workers looking for additional hours and flexibility in their schedules.
Angie Manetti, director of government affairs for the California Retailers Association, said that has already happened in San Francisco since that city’s Retail Workers Bill of Rights was passed last year. Managers now choose to leave shifts unfilled to avoid penalty pay from scheduling workers on short notice, leaving heavier workloads on the employees who are working, she said.
San Jose’s Opportunity to Work initiative, an ordinance on the ballot Nov. 8, would require businesses there to offer extra hours to part-time employees before hiring more workers.
The initiative would apply to businesses with 35 or more employees but exclude government jobs and allow companies to apply for a “hardship” exemption.
Dilsa Gonzalez, a San Jose resident who has held a variety of positions in the fast food sector there, hopes the measure will support people like her. Gonzalez works 16 hours per week, but she would like to work 40. When she asks supervisors for additional hours, they tell her there is no work available.
“But then they hire other people,” Gonzalez said through a translator. She tries other means of making money, including recycling or helping her husband, a mechanic, work. But in San Jose, it’s “hard to survive with just a few hours of work,” she said.
“There is a crisis of underemployment in Silicon Valley,” said Ben Field, executive officer of the South Bay AFL-CIO Labor Council, which gathered the required signatures to place the measure on the ballot. “It’s symptomatic of a problem across the country in which more and more wage earners are dependent on part-time work as a main source of income.”
Matthew Mahood, CEO of the San Jose Silicon Valley Chamber of Commerce, counters that the San Jose ordinance would “pit workers against each other” for full-time hours rather than creating more jobs and that the ordinance is too far-reaching.
Meanwhile, in the East Bay city of Emeryville, the City Council passed its “Fair Work Week Initiative” last week.
The initiative requires retail and fast food establishments that have more than 56 employees globally to:
• provide employee schedules two weeks in advance of their shifts;
• allow employees to decline schedule changes that happen within seven days of the changed shift;
• offer extra hours to part-time employees before bringing on new ones;
• provide employees with extra pay for taking on shifts on short notice, known as “predictability pay.”
The initiative also would require employers to allow employees to deny back-to-back closing and opening shifts and to request alternate work schedules without retaliation.
Emeryville has often been a trendsetter when it comes to passing worker protection legislation, EBASE’s Lin said. That includes the $14.44-per-hour minimum wage it established last year that at the time was the highest in the nation. She hopes to push the effort throughout the East Bay in the near future.
Moriah Larkins, an Oakland resident who has worked in retail in Emeryville for five years, is among those who say the unpredictability of retail scheduling has made life difficult. As a single mother, Larkins said, taking on last-minute shifts was difficult because child care is not easy to schedule, but she also often did not get scheduled as many hours as she wanted to pay her bills.
She now works at Home Depot, where her schedule is more secure, allowing her to plan better for her family and financially, she said. Home Depot store manager Lionel Stevens said at the City Council meeting that it issues schedules three weeks in advance, and has an open-door policy for employees who need flexibility.
A study commissioned by Emeryville indicates that relatively few workers believe work scheduling has a negative effect on their life. According to the study, 87 percent of employees said they have influence in creating their schedules, and 76 percent said their schedule has never changed with less than 24 hours of notice.
A separate study led by the backers of the Fair Work Week initiative, EBASE, the Alliance of Californians for Community Empowerment and the Center for Public Democracy found different results: that more workers — roughly two-thirds — get their schedule less than a week in advance and want to work more hours.
Many workers believe an ordinance is needed to close any loopholes for businesses who are not scheduling fairly.
Kelby Peeler, a Union City resident who worked at Barnes and Noble for seven years, said he would often be scheduled 30 hours one week and 10 the next, making it impossible to plan financially, and he often lost sleep with late-night closing shifts paired with opening shifts the next day.
“There are definitely good actors — it’s not like every store is having these problems,” Peeler said. “But you can’t have your schedule based on the whim of a manager.”
By ANNIE SCIACCA
Source
What You Need To Know About The Special Election In Arizona
What You Need To Know About The Special Election In Arizona
Ady Barkan, an ALS-stricken progressive activist whose “Be A Hero” initiative targets Republicans who voted for, or back the tax cuts, traveled to the district to campaign on Tipirneni’s behalf....
Ady Barkan, an ALS-stricken progressive activist whose “Be A Hero” initiative targets Republicans who voted for, or back the tax cuts, traveled to the district to campaign on Tipirneni’s behalf. While in Arizona, Barkan, who will need Medicare as his body deteriorates, asked Lesko to respond to the stated intentions of several Republican leaders, including House Speaker Ryan and White House budget director Mick Mulvaney, to seek major cuts to Social Security, Medicare and Medicaid.
Read the full article here.
The Fed’s Main Job Is Jobs, And A Coalition Plans To Keep It On Task
Campaign for America's Future - September 4, 2014, by Isaiah Poole - A lot of eyes will be on the Federal Reserve Friday when the Labor Department releases its August unemployment...
Campaign for America's Future - September 4, 2014, by Isaiah Poole - A lot of eyes will be on the Federal Reserve Friday when the Labor Department releases its August unemployment statistics. But where will the Fed’s eyes be focused? A group of activists are planning the next steps of their effort to keep the Fed focused on the continuing unemployment crisis, and keep the Fed from taking actions that will make things worse for millions still seeking work.
“We’ve got a lot of work ahead of us,” said Shawn Sebastian of the Center for Popular Democracy, who was part of a group of activists and unemployed people who confronted members of the Fed at last month’s economic summit in Jackson Hole, Wyo. That includes following up on a promise by Fed chair Janet Yellen to meet with the group in Washington and pressing a more detailed plan for how the Fed should proceed to help the Main Street economy grow.
“We are going to be looking at the full range of policy options,” Sebastian said.
The “inflation hawks” were poised to seize the narrative when the members of the Fed attended the Jackson Hole summit. These Fed members, egged on by conservative academics and policymakers, want the Fed to put the brakes on economic growth and turn its attention to fighting inflation, even though there are no signs that inflation is an imminent threat. On the contrary, wages as a percentage of economic output are at their lowest level since the late 1940s (while corporate profits as a share of the economy are at record highs), one sign that there are far more people looking for work than there are jobs for them.
What the hawks did not count on was the Center for Popular Democracy’s ragtag group of 10 unemployed people and activist supporters. They trekked to Jackson Hole to confront Fed members with their stories of struggling to find decent jobs, along with a demand that the Fed not abandon its unfinished role in rebuilding the middle-class economy, in the form of a letter endorsed by more than 70 organizations. Their biggest success, Sebastian said, was a two-hour meeting with Kansas City Federal Reserve Bank President Esther George, who just before Jackson Hole said in an interview with CNBC that it was time for the Fed to begin thinking about raising interest rates “when you see the economy getting as close as we are to full employment.”
But Sebastian and his group told George that the economy was nowhere near full employment and that the analysis of the inflation hawks was “lacking in relevance, substance and rigor.” One member of the group told of how she went from being an MBA who had risen to a management job over 15 years to being laid off and unable to find work for months, finally settling for a job that paid half as much as the job she lost.
It’s not clear what substantive effect hearing these stories had on George and other inflation hawks on the Fed, Sebastian said. “But I do hope we contributed to her thinking and we also started an engagement” with the Fed, he said. Fed members now know that when they discuss economic policy, “you can’t make decisions without public scrutiny anymore, because we’re paying attention now.”
One of the ideas that the group will refine and attempt to build consensus around would have the Fed invest directly in infrastructure bonds and similar government instruments, in much the same way that it purchased billions in bonds to prop up the financial sector in the years following the 2008 financial crash. The bond-purchasing program, known as quantitative easing, helped boost Wall Street share prices, according to most experts, but had no direct effect on job-creation or on bringing the economic recovery to communities around the country hardest hit by the crash – as the nation has now vividly seen in Ferguson, Mo.
Having the Fed directly buy bonds that would enable federal, state or local governments to fund transportation projects, school construction or other public facilities would put the Fed’s power to work in ways that directly creates jobs in the short run and assets that enhance the nation’s competitiveness and well-being in the long run.
The Fed could also better use its regulatory authority to prod the banks to pour into the economy the close to $2 trillion that is now sitting in its vaults. That hoarded cash could be put to work creating jobs and lifting the wages of working-class people.
Whatever policies take shape during the next phase of the Center for Popular Democracy’s campaign to keep the Fed focused on full employment, Sebastian says that the opening round has been a success in sending the message that “we’re not in an inflation crisis … we are in an unemployment crisis. You can’t ignore an ongoing crisis for the sake of a ghost of inflation that may or may not appear.”
Immigrant group targets Wells Fargo for supporting ‘Trump campaign of hate’
Immigrant group targets Wells Fargo for supporting ‘Trump campaign of hate’
Advocates for undocumented immigrants gathered outside 3 Wells Fargo Center in uptown Charlotte Wednesday to demand the bank cut all ties with companies that profit from deportations.
...
Advocates for undocumented immigrants gathered outside 3 Wells Fargo Center in uptown Charlotte Wednesday to demand the bank cut all ties with companies that profit from deportations.
Hector Vaca of Action NC says the goal of the event is to get Wells Fargo to pull its money out of private prisons and immigrant detention centers. The protesters are also demanding the bank use its political influence to stop plans for a wall along the Mexican border.
Read the full article here.
Immigrant advocates attack banks for financing private prisons
“Private prison companies and their Wall Street financiers stand to benefit from policies that increase detentions, separate families, and cause irreparable harm to immigrant children," said Ana...
“Private prison companies and their Wall Street financiers stand to benefit from policies that increase detentions, separate families, and cause irreparable harm to immigrant children," said Ana María Archila, Co-Executive Director of the Center for Popular Democracy, in a statement.
Read the full article here.
More Overreach by the N.Y.P.D.
The New York Times - June 23, 2013, Editorial - The revelation in 2011 that the New York City Police Department was spying on law-abiding Muslims rightly attracted scrutiny from the Justice...
The New York Times - June 23, 2013, Editorial - The revelation in 2011 that the New York City Police Department was spying on law-abiding Muslims rightly attracted scrutiny from the Justice Department, which announced last year that it intended to review the program. The disclosure also raised troubling questions about whether the city was violating a federal court order that bars it from retaining information gleaned from investigations of political activity unless there are reasonable indications of potential wrongdoing. The purpose of that order was to discourage unjustified surveillance and prevent police from peering into people’s private affairs and building dossiers on them without legitimate cause.
Now comes a new federal lawsuit filed on behalf of Muslim citizens and organizations saying they have been subjected to illegal surveillance that has disrupted Muslim houses of worship, made it difficult for congregants and their spiritual leaders to worship freely, and inhibited Muslims from openly associating with lawful Muslim charities and civic groups and exercising First Amendment rights.
One striking case in the complaint involves Masjid At-Taqwa, a mosque in Brooklyn, where the Police Department is alleged to have installed a surveillance camera, clearly marked with the department’s insignia and pointed at the mosque door. This seems curious because the mosque’s longtime leader, Imam Siraj Wahhaj, was said in the complaint to be a clergy liaison for the N.Y.P.D. Community Affairs Bureau and a member of the Majlis Ash-Shura, also known as the Islamic Leadership Council of Metropolitan New York.
The camera, which the complaint says was moved across the street but remains in use, raised fears among congregants that they were being targeted for deportation. Many refrained from attending communal prayer; some left the congregation. Concerned that their religious pronouncements might be misquoted by informants, the mosque’s spiritual leaders began recording sermons so that they would be able to defend themselves. They have said they avoided meeting with congregants individually because they feared the congregants might be informants.
Meanwhile, according to the complaint, a police informant who visited this and other mosques tried to lure congregants into inflammatory conversations that would then have been reported to the police. According to court documents, the informant tried the same strategy with a Muslim charity that distributed food to the needy. The group, which apparently did nothing illegal, lost credibility in the community once people learned that it had been a target of police scrutiny.
Police Commissioner Raymond Kelly has responded to such complaints by insisting that the department’s surveillance program is perfectly legal and implying that critics are undermining public safety. This is the same response he offers when challenged on the stop-and-frisk program. This arrogant approach tries to discredit legitimate criticism while justifying further overreach by a department with a history of abusive behavior. It is up to the courts to determine whether the Muslim surveillance program and the stop-and-frisk program are constitutional. What already seems clear is that these surveillance policies create suspicion and mistrust, which does not help the Police Department or anyone else.
Source
Statement from the Fed Up coalition on Philadelphia Fed’s Announcement of a New President
FOR IMMEDIATE RELEASE: March 2, 2015
Contact:Ricardo A. Ramírez, rramirez@populardemocracy.org, 202-464-...
FOR IMMEDIATE RELEASE: March 2, 2015
Contact:Ricardo A. Ramírez, rramirez@populardemocracy.org, 202-464-7376
Statement from the Fed Up coalition on Philadelphia Fed’s Announcement of a New President
In response to this morning’s announcement of a new president for the Philadelphia Federal Reserve, Kendra Brooks of Action United in Philadelphia put out the following statement today on behalf of the Fed Up coalition:
“As the nation’s central bank, the Federal Reserve System’s governance and decision-making processes should reflect the values of transparency and public accountability. The process that was used to select Patrick Harker as the new President of the Federal Reserve Bank of Philadelphia failed to do that. Despite repeated requests from community, consumer, labor, and academic organizations and public officials within the region, the Philadelphia Fed refused to create any mechanisms for engagement with the public. Instead, the process was entirely opaque: nobody outside of the Federal Reserve knew who the candidates were or what the criteria was for selection. This process did a disservice to the Federal Reserve System and the people of the Philadelphia region.
“We congratulate President Harker on his appointment and look forward to working with him to build a strong economy for Philadelphia and the region. For too many families within the Third District, the economy still isn’t working: the so-called recovery has featured stagnant wages and not enough good jobs. We are eager to partner with President Harker to change that reality, and to build a Federal Reserve Bank of Philadelphia that is accessible to public input and responsive to the public’s needs.”
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“Fed Up” is a national coalition of community-based organizations, unions, and policy advocates calling for the Federal Reserve to adopt policies that create a full employment economy with rising wages and good jobs for everyone and for a reformed Federal Reserve that is transparent and accountable to the public. The Coalition recently met with Fed Chair Janet Yellen and three Fed Governors to discuss its priorities.
Education Department Releases List of Federally Funded Charter Schools, though Incomplete
The U.S. Department of Education has released a list of the charter schools that have received federal funding since 2006.
The move comes in the wake of requests by the Center for Media and...
The U.S. Department of Education has released a list of the charter schools that have received federal funding since 2006.
The move comes in the wake of requests by the Center for Media and Democracy (CMD), dating back to 2014, for public disclosure of who had received federal taxpayer money. CMD had submitted requests for this and related information to the Department and several states.
In October 2015, CMD released its report "Charter School Black Hole: CMD Special Investigation Reveals Huge Info Gap on Charter School Spending," discussing the more than $3.7 billion dollars the federal government had spent on charters and the gaps in what the public could see about which charters received taxpayer money.
Two months later, the Department of Education issued a news release on the subject, titled "A Commitment to Transparency: Learning More about the Charter School Program." The data was released to the public on the eve of Christmas Eve.
According to the Department, "The dataset provides new and more detailed information on the over $1.5 billion that CSP [the Charter School Program] has provided, since 2006, to fund the start-up, replication, and expansion" of charters.
It includes information on which grant program funded each of the charter schools listed and how much. That is more information than the public has ever been given about the true reach of the CSP program into their communities, fueled by federal tax dollars.
It lists more 4,831 charter school with the amounts received in that period, but it does not indicate which of them closed. CMD has sought to assess the number of closed charters using other data as a proxy but ambiguities have impeded that effort.
In its December release, the agency noted that more than half of the charter schools in its list of nearly 5,000 were "operational" as of the last school year with complete data: "CSP planning and startup capital facilitated the creation of over 2,600 charter schools that were operational as of SY 2013-14; approximately 430 charter schools that served students but subsequently closed by SY 2013-14; and approximately 699 'prospective schools.'”
The fate of each of the more than 2,000 charter schools in the difference between 4,831 and 2,600 is not definitively known, although CMD's initial analysis indicates that far more than 430 charters have closed over the past two decades. The agency has not released a complete list of closed charters that received federal funds and how much.
The dataset also does not go back to the beginning of federal charter school funding in 1993, though it does cover the more recent period CMD sought information about. Accordingly, the dataset does not include all the charter schools that received federal tax monies but closed since the inception of the federal charter school program.
The list released in December also did not include the names of "prospective schools" that received federal funds but never opened, which CMD has called "ghost" schools--as with the 25 it found that never opened in Michigan in 2011 and 2012 but that received at least $1,7 million dollars, according to a state expenditure report.
So on January 13, 2016, CMD filed a new set of open records requests with the Department of Education asking that it fill in those gaps and also provide information about communications regarding closed charters and prospective charters.
This is part of a long-term investigation of charter schools that CMD started nearly five years ago.
In 2011, CMD began examining the close relationship between charter school businesses and legislators after a whistleblower provided it with all of the bills secretly voted on through the American Legislative Exchange Council (ALEC) where corporate lobbyists vote as equals with lawmakers on bills that are then pushed into law in statehouses across the country.
That award-winning investigation shed new light on an industry that had grown from an "experiment" in 1992 (in Minnesota) into an influential network with a league of federal and state lobbyists seeking increasing redistribution of funds from traditional public schools to other entities under the watchword of "choice."
Over the past nearly five years, CMD has documented the impact of the policies on American school children, despite the PR claims of the industry, which has an increasing number of allies within education agencies who are devoted to charter expansion at the expense of traditional public schools. CMD has written about numerous aspects of the charter school industry as well as corporations, non-profit groups, and policymakers involved in the effort to privatize public schools in numerous ways. CMD has also documented how budget difficulties following the Wall Street meltdown under George W. Bush have been seized on by some in the industry as opportunities to try to displace school boards and local democratic control of schools and spending. CMD has also documented how billionaire funders of ALEC, such as the Koch brothers, have pushed their hostility toward the idea of public schools under the guise of choice.
In 2014, CMD sought to determine how much money the federal government had spent on charters, through State Education Agencies (SEAs) or Charter Management Organizations (CMOs) or other vehicles and discovered that this information was not publicly available. Instead, key data about how Americans' tax dollars were being spent on the charter school experiment and its failures was largely hidden from public view.
When CMD sought the identities of the charter authorizers or CMOs that had been essentially designated via ALEC bills to determine which charters were eligible to receive federal funds, the feds suggested asking the CMOs, even though many of them are private entities not covered by Freedom of Information Act (FOIA) rules or state open records laws.
CMD was told to ask NACSA, the National Association of Charter School Associations, a private group created as a result of this new industry, but NACSA also did not maintain a public list of all the charters that had received federal funding and how much each had received.
Additionally, the states through their SEAs--where pro-charter staffers work within state education departments--varied greatly in how much information was provided to the public about which charters had received funds and how that taxpayer money had been spent--despite mounting news accounts of fraud and waste by charters, including numerous criminal indictments, as tallied at more than $200 million by the Center for Popular Democracy.
Under ALEC-style charter bills, charters were exempted from most state regulations including key financial reporting and controls, and a number of charters refused requests by the press under open records laws for such information.
Although some charters were managed by school districts, many were not, and with this deregulation has emerged an array of questionable practices, such as "public" or non-profit charters that outsource their administration to for-profit firms--in addition to the advent of for-profit charters, like K12's "virtual schools," another conduit for redistributing taxpayer dollars through yet another ALEC bill.
When CMD sought information on how much money had even been spent on charters, no one knew. So CMD calculated the figure the federal government has spent fueling the charter school industry and the current tally stands at more than $3.7 billion.
But, that revealing figure did not provide the public with the information it has a right to know about where all that money actually went, as noted in CMD's report "Charter School Black Hole."
So CMD requested information about which charters received such funds and how much.
In releasing the new dataset, the Department of Education is providing new transparency about charter school grantees, although significant gaps remain.
Source: PR Watch
Fed Chair Candidate Kevin Warsh Draws Opposition From Left and Right
Fed Chair Candidate Kevin Warsh Draws Opposition From Left and Right
On a Wednesday in mid-September, a group of progressive activists concerned about the stewardship of the American economy packed a meeting room on Capitol Hill with staff of Senate Democrats. Part...
On a Wednesday in mid-September, a group of progressive activists concerned about the stewardship of the American economy packed a meeting room on Capitol Hill with staff of Senate Democrats. Part strategy session and part pep talk, the gathering had a very specific aim.
“We’ll do whatever we can do to prevent Kevin Warsh from taking on the role of chair of the Federal Reserve,” Jennifer Epps-Addison, president of the Center for Popular Democracy, told the gathering.
Read the full article here.
2 months ago
2 months ago