Object Action: The "F" Word in a Post-truth Era Opening Reception to Collect For Change Inauguration
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Object Action: The "F" Word in a Post-truth Era Opening Reception to Collect For Change Inauguration
Object Action: The "F" Word in a Post-Truth Eramarks the inauguration of Collect For Change-an initiative which collaborates with artists across disciplines, offering artwork with a portion of...
Object Action: The "F" Word in a Post-Truth Eramarks the inauguration of Collect For Change-an initiative which collaborates with artists across disciplines, offering artwork with a portion of sales benefiting a charity personally selected by each artist. As a feminist response to the one-year anniversary of the current administration, the group exhibition highlights "objects" and works by female artists "objecting" to a dominant paradigm through innovative media in the feminist realm.
Featured artists Ana Teresa Fernández, Chitra Ganesh, Michelle Hartney, Angela Hennessy, Nadja Verena Marcin, Sanaz Mazinani, and Michele Pred will donate a portion of all artwork sales to Art & Abolition, The Center For Popular Democracy's Puerto Rico Rebuilding Fund, Girls Garage, Girls Inc., NARAL Pro-Choice California, Planned Parenthood, and 350.org.
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Jobs Numbers Offer No Evidence for Rate Increase in September; All Data Points to Persistent Labor Slack, No Signs of Inflation
“Today’s jobs numbers offer even more proof that the Fed officials insisting on raising interest rates at the next Federal Open Market Committee meeting are refusing to look at reality. The latest...
“Today’s jobs numbers offer even more proof that the Fed officials insisting on raising interest rates at the next Federal Open Market Committee meeting are refusing to look at reality. The latest numbers confirm what we have already known: labor slack persists, inflation is not a threat, and an interest rate hike would be premature, with devastating effects on working people, particularly communities of color.
“Wage growth has been flat for the last 5 years and the latest numbers do not show signs of significant acceleration. Furthermore, the employment to population ratio remains well below its pre-recession levels. These indicators of labor slack are – yet again – coupled with no evidence pointing to a threat of inflation. The data just does not support a rate increase. The data just does not support a rate increase. If the Fed wants to maintain credibility as a data-driven institution, it cannot not increase rates.
“Many Fed members have hinted at an imminent interest rate liftoff in September, but these numbers show that a rate increase should – at the very least – be off the table for the remainder of 2015. A premature interest rate hike would sacrifice potentially millions of jobs and hundreds of millions in wages – disproportionately lost by people of color. The latest jobs numbers show just how inadvisable – and damaging – a September rate hike would be.”
Rod Adams, a member of the community-based organization Minnesota Neighborhoods Organizing for Change (MNNOC), and a member of the Fed Up Campaign added:
“I worked my way through college, sometimes working the closing shift at Chipotle until 2 am and coming back to open at 6 am. I worked hard, studied hard, and gave up sleep so I could get a better job. This spring, I graduated with my associate's in business management, but I’ve been looking for a job since April. I still can’t find anything to match my skills.
“It’s not only me. My friends with four-year degrees can only find jobs at McDonald’s or Taco Bell. I didn’t go to college so I could make $10.10 working fast food. I have a daughter. I can't support myself and my daughter working at one of these places. I’m worth more than $10.10. The Fed needs to listen to what real people have to say. We are not just data on spreadsheets. We are real people with real bills. If the Fed raises the interest rates, what’s going to happen to my wages?”
To schedule interviews with Connie Razza, send an email topress@populardemocracy.org.
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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.
Ciudanía en Nueva York – Importancia de las Cooperativas de Trabajo
Comunidad Y Trabajadores Unidos - July 15, 2014 - El debate sobre los derechos de migrantes parece estar tan polarizado y por eso no vimos mucho progreso en la reforma migratoria ni en asegurar...
Comunidad Y Trabajadores Unidos - July 15, 2014 - El debate sobre los derechos de migrantes parece estar tan polarizado y por eso no vimos mucho progreso en la reforma migratoria ni en asegurar los derechos de los trabajadores. En Nueva York podemos ver cambios que muestran algunas oportunidades para los migrantes a nivel estatal. En este programa vamos a enfocarnos en dos de los cambios: la legislación que ofrece ciudadanía en Nueva York y el avance de cooperativas de trabajo para trabajadores.
Ciudanía en Nueva York
Hasta ahora el debate sobre la reforma migratoria solo pasó a nivel federal pero la legislación que se desarrolló recientemente, trajo el debate a nivel estatal. La legislación que se desarrolló ofrece ciudanía para en Nueva York para los migrantes y Andrew Friedman habla sobre el significado de esta ley. Andrew Friedman es el co-director del centro de democracia popular y es parte del movimiento que empuja para esta legislación. Friedman habla sobre por qué Nueva York debería desarrollar una legislación que ayude a los migrantes y sobre el papel importante que juegan los migrantes en Nueva York.
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‘We’ll Give You Whatever We Have:’ How Organizations Are Fighting to Bring Relief to Puerto Rico
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‘We’ll Give You Whatever We Have:’ How Organizations Are Fighting to Bring Relief to Puerto Rico
The sixth-floor windows wouldn’t hold in the winds, they knew. So the doctors and staff at the University Pediatric Hospital in San Juan moved the entire neonatal intensive-care unit, the NICU,...
The sixth-floor windows wouldn’t hold in the winds, they knew. So the doctors and staff at the University Pediatric Hospital in San Juan moved the entire neonatal intensive-care unit, the NICU, down three floors as Hurricane Maria closed in. The predicted damage came. Windows cracked, water poured in. The air-conditioning units blew away.
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Elizabeth Warren and more than 100 House Democrats blast lack of diversity at the Fed
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Elizabeth Warren and more than 100 House Democrats blast lack of diversity at the Fed
The Federal Reserve System is one of the most important institutions in the entire American government. Its composition is also almost shockingly non-diverse, with zero African Americans or...
The Federal Reserve System is one of the most important institutions in the entire American government. Its composition is also almost shockingly non-diverse, with zero African Americans or Latinos serving on the key panel whose decisions impact job creation and the pace of economic growth, despite fairly overwhelming evidence that Fed decisions impact racial groups differently.
What's more, the bodies that choose which people sit on that non-diverse committee are themselves extremely non-diverse — locking into place a system in which the interests of African Americans, Latinos, and lower-income people more generally may be underconsidered in making decisions about unemployment, inflation, and interest rates.
All this is the subject of a letter released at noon today by a group of 111 members of the House of Representatives plus 11 senators, headlined by Elizabeth Warren, Cory Booker, Bernie Sanders, Jeff Merkley, Kirsten Gillibrand, and Al Franken, demanding that the Fed pay more attention to diversity in its ranks.
The key graf:
According to a study by the Center for Popular Democracy released in early February, 2016, 83 percent of Federal Reserve head office board members are white, and men occupy nearly three-fourths of all regional bank directorships. The lack of public representation on regional Banks’ boards is even more distressing in light of the lack of diversity among regional Bank presidents and the resulting lack of diversity on the Federal Open Market Committee (FOMC). Currently, 92 percent of regional Bank presidents are white, and not a single president is either African-American or Latino. Moreover, at present 100 percent of voting FOMC participants are white, while 83 percent of regional Bank presidents and 60 percent of voting FOMC members are men.
Progressives interested in monetary policy issues have long struggled to engage the public, activist groups, or elected officials in the topic. The focus on diversity from the left-wing Center for Popular Democracy's "Fed Up" campaign that inspired this letter represents a new tactical effort to change that.
Diversity among decision-makers is not, of course, directly a monetary policy issue. But as the letter points out, monetary policy does have significant consequences for racial disparities in employment. They cite research from the Economic Policy Institute "demonstrating that for every .91 percent reduction in unemployment for whites, black unemployment drops 1.7 percent" meaning that African Americans have more to gain from monetary policy that is more pro-growth and less inflation-averse.
Michigan Representative John Conyers who was one of the main driving forces behind the letter issued a statement observing that "Detroit and cities across the country with high minority populations have some of the highest unemployment rates and will be harmed if the Federal Reserve does not consider our needs when they make key policy decisions."
How the Federal Reserve is organized
The specifics of the letter hinge on the structure of the Federal Reserve system, which is, in a word, confusing.
The main hub of the Fed is the Board of Governors in Washington, DC, which consists of a chair, a vice chair, and five other board members. Currently there are two vacancies on the board, and all five board members are white.
In addition to the Board of Governors, there are 12 regional Federal Reserve banks, each of which has its own president and its own board of directors. Each bank's president is selected by its board, with the choice subject to confirmation by the main board. Each regional bank board itself is composed in part of members selected by the private banks of the region and in part of members selected by the central board.
Monetary policy decisions are made by what's known as the Open Market Committee. The committee is composed of the seven members of the Board of Governors (at present, again, there are two vacancies) plus the president of the New York Fed, plus four other regional bank presidents serving on a rotating basis.
The point of the letter is that all these various groups underrepresent women and massively underrepresent African Americans and Latinos.
Today's Fed neglects race
Diversity of membership is neither necessary nor sufficient to ensure that a broad range of interests is represented. But there is considerable evidence that the current not-so-diverse group of monetary policymakers is not considering the full range of interests in American society.
Narayana Kocherlakota, the former president of the Federal Reserve Bank of Minneapolis, was the only nonwhite FOMC member during his term and offered this observation back in January:
However, there is one key source of economic difference in American life that is likely underemphasized in FOMC deliberations: race. Let’s look, for example, at the most recently released transcripts for FOMC meetings, which cover the year 2010 (my first full year on the Committee). It was a challenging year for the US economy as a whole, as the unemployment rate was above 9 1/4% in every month. But it was especially challenging for African-Americans: In every month of 2010, the unemployment rate among African-Americans was at least 15 1/2%. I did a search of the hundreds of pages of the meeting transcripts. Based on that search, my conclusion is that there was no reference in the meetings to labor market conditions among African-Americans (or Black Americans).
Monetary policymakers, with their needed independence, always risk being (or at least being seen as) insufficiently empathetic to the lives of their nations’ citizens. The Federal Reserve Act has mitigated this risk in the US by ensuring that an appreciation for economic diversity is at the heart of the FOMC’s deliberations.
The details of monetary policy get pretty complicated, and there's rarely been much sign of normal people being interested in them. But issues about who is represented and whose interests get discussed are easier to understand, so you can see why this particular angle is gaining momentum in Congress.
After the release of the letter, Hillary Clinton also weighed-in on the issue via spokesman Jesse Ferguson who offered a statement:
The Federal Reserve is a vital institution for our economy and the wellbeing of our middle class, and the American people should have no doubt that the Fed is serving the public interest. That's why Secretary Clinton believes that the Fed needs to be more representative of America as a whole as well as that commonsense reforms — like getting bankers off the boards of regional Federal Reserve banks — are long overdue. Secretary Clinton will also defend the Fed's so-called dual mandate — the legal requirement that it focus on full employment as well as inflation — and will appoint Fed governors who share this commitment and who will carry out unwavering oversight of the financial industry
By Matthew Yglesias
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Want To Change The Face Of Politics? Help Teens Register To Vote.
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Want To Change The Face Of Politics? Help Teens Register To Vote.
In a recent Center for Popular Democracy report, we detailed examples of youth-focused campaigns for high school registration around the country. In Phoenix, organizers at Living United for Change...
In a recent Center for Popular Democracy report, we detailed examples of youth-focused campaigns for high school registration around the country. In Phoenix, organizers at Living United for Change in Arizona regularly go door-to-door registering eligible students in the 27,000-student Phoenix Union High School district. They also work with school district officials to integrate voter registration in high schools.
Read the full article here.
'Nueva York en un Minuto': el fiscal general Jeff Sessions le declara la guerra a la pandilla MS-13
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'Nueva York en un Minuto': el fiscal general Jeff Sessions le declara la guerra a la pandilla MS-13
En otras noticias, la dueña de una floristería de Nueva Jersey es acusada de robar flores de un cementerio y el expresidente dominicano Leonel Fernández está en Manhattan para presentar su nuevo...
En otras noticias, la dueña de una floristería de Nueva Jersey es acusada de robar flores de un cementerio y el expresidente dominicano Leonel Fernández está en Manhattan para presentar su nuevo libro.
Lea el artículo completo aquí.
Group Blasts Fed for Lack of Diversity in Leadership
Source: Wall Street Journal
Federal Reserve leadership is overly...
Source: Wall Street Journal
Federal Reserve leadership is overly male, almost entirely white and drawn too frequently from the banking community, according to a group critical of the central bank.
A new report from the Center for Popular Democracy’s Fed Up campaign analyzes the types of people populating the Fed’s Washington-based board of governors, the regional bank presidencies and the regional bank boards of directors.
The report notes that all voting members of the central bank’s rate-setting Federal Open Market Committee and nearly all the regional bank presidents are white. Just two of the 12 presidents and two of the five governors are women.
“These key decision-making bodies remain dramatically unbalanced and unrepresentative of the vast majority of people who participate in the economy,” said the group, which has called for more public input into the selection of regional bank presidents and their performance evaluations.
The center said the composition of the Fed’s leadership bodies violates the spirit of the law that created the central bank, which calls for membership drawn from many different industries and interests.
A Fed spokesman responded to the criticism about the regional bank boards by saying the central bank has “focused considerable attention” to finding directors “with diverse backgrounds and experiences” that represent agriculture, commerce, industry, services, labor and consumers, as the law requires.
“We also are striving to increase ethnic and gender diversity,” the spokesman said, noting a rise in minority representation on the boards from 16% in 2010 to 24% today. Female representation has risen from 23% to 30% over the same period, and all told, 46% of regional directors now are either a woman or a member of a racial minority, the spokesman added.
Fed Chairwoman Janet Yellen is the central bank’s first female leader.
The Fed Up group, with a membership drawing heavily from labor unions and community organizations, is a regular critic of the central bank. It has argued in recent months that the Fed shouldn’t raise short-term interest rates and has pressed its case in private meetings with Fed officials. Several of its members appeared outside the central bank’s research conference in Jackson Hole, Wyo., last year to call attention to their views.
The group’s concern about a dearth of diversity at the Fed has been echoed by former Minneapolis Fed chief Narayana Kocherlakota. He argued in a blog post last month the central bank has appeared to give short shrift to racial concerns in part because there have been almost no African-Americans in its policy-making ranks. He wrote that the concerns of racial minorities have been “underemphasized” at the Fed.
The last African-American to serve on the Fed board was Roger W. Ferguson Jr., who served as a governor between 1997 and 2006 and as vice chairman from 1999 to 2006. The first African-American to serve as a Fed governor was Andrew Brimmer, from 1966 to 1974.
The report showed particular concern about the directors on the regional Fed bank boards, which are drawn from the private sector. It said 83% are white, compared with around two-thirds of the total U.S. population.
“The diversity of regional board members is meant to inform the bank presidents, who in turn, participate in discussions and vote at the FOMC,” the report said. “However, the boards, the presidents, and the FOMC fail to represent their region’s racial diversity.”
The report also said its analysis found that representatives of banking and what it calls commercial interests have increased their share of regional Fed board seats in recent years. Representatives of community groups and labor unions account for fewer than 5% of the available board seats, according to the center.
Among the regional Fed bank boards’ most high-profile roles is selecting their bank presidents. Recent regulatory changes now bar directors from participating in that process if their firms are regulated by the bank.
The directors also provide information to bank officials about local economic conditions and give advice on running the banks.
Protesters Press Diversity Case as New York Fed Seeks New Chief
“Fed up, we can’t take it no more!” chanted a group of about 50 green shirt-clad members of Fed Up, a grass-roots advocacy campaign that has received backing from Facebook billionaire Dustin...
“Fed up, we can’t take it no more!” chanted a group of about 50 green shirt-clad members of Fed Up, a grass-roots advocacy campaign that has received backing from Facebook billionaire Dustin Moskovitz. Fed Up is pushing central bankers to keep focused on creating more jobs. America’s unemployment rate is at its lowest since late 2000. But when Fed Up’s members look at the labor market, they see the people that they say the central bank has overlooked. That’s why they and other progressives, including Democratic lawmakers, are pressing the New York Fed to consider a diverse slate of candidates as it weighs replacements for its president, William Dudley, who plans to step down this year.”
Read the full article here.
Jersey City's smart push for paid sick days: Editorial
Star-Ledger - September 5, 2013 - When a stomach bug flattens your family, should it cost a day’s pay? Does flu season put you in fear of losing your job? For more than 1.2 million New Jersey...
Star-Ledger - September 5, 2013 - When a stomach bug flattens your family, should it cost a day’s pay? Does flu season put you in fear of losing your job? For more than 1.2 million New Jersey workers without paid sick days, catching a cold means choosing between their health and their job.
Jersey City Mayor Steve Fulop is calling for nearly all city businesses to guarantee time off for illness. His proposal, requiring companies with 10 or more workers to offer five paid sick days a year, goes to the city council next week, he told the New York Times. He says it’s a matter of “basic dignity for working families.”
Fulop puts himself smartly in front of this nationwide trend. Letting sick workers stay home is good for their health — not to mention their co-workers’, or the customers’. Do you want a sniffling, sneezing waiter serving lunch because he’ll be fired if he stays home?
In 1992, half the nation’s workers got paid sick time. Twenty years later, it’s 61 percent, even as wages and paid vacation are shrinking. Connecticut adopted paid sick leave in 2011. Massachusetts is debating it. New York City made it law in June. If Jersey City adopts Fulop’s plan — and it should — it would build momentum to expand the benefit statewide.
In May, Assemblywoman Pamela Lampitt (D-Camden) introduceda bill requiring employers to offer at least 40 paid sick hours a year. It hasn’t moved.
Predictably, businesses bristled, citing cost. But the opposition doesn’t add up: On average, paid sick time accounts for less than 1 percent of private-sector payrolls, according to the Bureau of Labor Statistics. And Fulop is sensitive to those worries: Small Jersey City employers would have to provide only unpaid sick time.
Paid sick leave is more than a public health concern. It’s economic justice. Increasingly, full-time jobs are difficult to find, and workers shouldn’t have to choose between their health and their paycheck. That was the rationale, too, when New Jersey enacted paid family leave in 2008.
Sick time should be a universal right.
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