Top Fed Officials Field Questions From Activists Unhappy Over Monetary Policy
Top Fed Officials Field Questions From Activists Unhappy Over Monetary Policy
Top Federal Reserve officials defended their handling of monetary policy in a freewheeling meeting with liberal...
Top Federal Reserve officials defended their handling of monetary policy in a freewheeling meeting with liberal activists at the annual Fed conference in Jackson Hole, Wyo.
Much of the meeting centered on whether the Fed should raise interest rates, as it's widely expected to do before the end of the year, and the likely impact of a hike on poor and minority communities.
"The economy has recovered for much of white America, but for black and Latino workers it has not," said Rod Adams, of Neighborhoods Organizing for Change in Minneapolis.
"If you decide that we're at maximum employment now and you intentionally slow down the economy, you'll be leaving us behind, pulling up the ladder right after you've climbed it," Adams said.
"In no way do I want to see the economy stall. In no way do I want to see the economy stop growing," said John Williams, president of the Federal Reserve Bank of San Francisco.
Since monetary policy takes a while to have an impact, the unemployment rate is likely to keep falling for a while, even if the Fed raises rates this year, Williams said.
"If we do wait too long, what happens is eventually the economy creates imbalances or overheats and we get into situations somehow where we have to react to that and when we react to that, that often leads to a recession or some other bad outcome," Williams said.
"I think the Federal Reserve is very much committed to having a set of monetary policies in place that achieve maximum sustainable employment over time. Where there are differences are: What's the precise interest rate settings to achieve that goal?" said William Dudley, president of the Federal Reserve Bank of New York.
The hourlong meeting was organized by Fed Up, a coalition of some two dozen community groups, labor unions and liberal policy groups that have sought to influence Fed policy.
An unusually large number of Fed officials attended the meeting, including Vice Chair Stanley Fischer, Eric Rosengren of the Boston Fed and Kansas City Fed President Esther George.
While the meeting, which was billed as a "listening session," was mostly cordial, some of the activists made their unhappiness over Fed policy clear.
Fed officials did not object when Kendra Brooks of the Philadelphia group ACTION United called out the central bank for the lack of diversity among its governors, boards of directors and staff members.
"I would be very surprised if anybody in the Federal Reserve system thinks that we've done well on that," Dudley said.
Neel Kashkari, president of the Minneapolis Fed, said some progress has been made in diversifying his own staff and board of directors, but conceded more work needed to be done.
By JIM ZARROLI
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Fox Host Falsely Claims New York's Municipal ID Program Will Give Undocumented Immigrants Voting Rights
Fox Host Falsely Claims New York's Municipal ID Program Will Give Undocumented Immigrants Voting Rights
Media Matters - September 19, 2014, by Cal Colgan - Fox News co-host Steve Doocy claimed New York City's new law...
Media Matters - September 19, 2014, by Cal Colgan - Fox News co-host Steve Doocy claimed New York City's new law allowing municipal identifications to all city residents will allow undocumented immigrants to vote in state and local elections. But New York City's election law clearly stipulates that only U.S. citizens can vote, and experts explain that the municipal IDs provide much-needed services the city's residents.
New York City Mayor Announces Municipal IDs Will Give Free One-Year Access To New York Cultural InstitutionsNew York City Mayor Bill De Blasio Announces Municipal ID Will Give Free One-Year Access To City's Cultural Institutions. On September 19, New York City Mayor Bill de Blasio announced that residents who register for the city's municipal identification cards in January 2015 will receive free admission to the city's top cultural institutions for one year:
"The municipal ID is a powerful tool to bring more New Yorkers out of the shadows and into the mainstream. It is now also a key that opens the door for hundreds of thousands of more New Yorkers to our City's premier assets in culture, science and entertainment," said Mayor Bill de Blasio. "The Municipal ID Card embodies the values we cherish most about inclusivity and equality, and these memberships are another step forward on providing greater access and opportunity for our people." [NYC.gov, 9/18/14]
Fox Host Claims Municipal ID Program Will Give Undocumented Immigrants Voting RightsFox's Steve Doocy: Undocumented Immigrants Could Use ID Cards To Vote In Local And State Elections. In a September 19 segment highlighting de Blasio's municipal ID program, Fox & Friends co-host Steve Doocy claimed that New York City's new municipal ID program will allow undocumented immigrants to vote in local and state elections:
DOOCY: Mayor de Blasio here in New York City ran on making sure that people in this country illegally who make New York City their home could get an I.D. card that they could use to, among other things, vote in local and state elections. Well, now, to try to get as many people as possible to get these cards, these New York City municipal I.D. cards, what they're doing is they're going to have incentives. Go ahead, get a membership for one year to 33 of the city's signature cultural institutions, like the Bronx Zoo, the Met, Lincoln Center or Carnegie Hall. [Fox News, Fox & Friends, 9/19/14]
New York City's Election Laws Prohibit Non-Citizens From VotingNew York City Board Of Elections: Only US Citizens Can Register To Vote. According to New York City's Board of Elections, only U.S. citizens are eligible to register to vote in the city (emphasis added):
To register to vote in the City of New York, you must:
1. Be a citizen of the United States (Includes those persons born in Puerto Rico, Guam and the U.S. Virgin Islands).
2. Be a New York City resident for at least 30 days.
3. Be 18 years of age before the next election.
4. Not be serving a jail sentence or be on parole for a felony conviction.
5. Not be adjudged mentally incompetent by a court.
6. Not claim the right to vote elsewhere (outside the City of New York). [Board of Elections in The City of New York, accessed 9/19/14]
Municipal IDs Provide Much-Needed Services For Undocumented ImmigrantsCenter For Popular Democracy: Municipal IDs Improve Undocumented Immigrants' Access To Community Services And Increase Community Participation. In a 2013 report on municipal ID programs, the Center for Popular Democracy (CPD) explained that the "ability to provide proof of identity is a basic necessity" that affects "almost every aspect of daily life." According to CPD, having access to identification cards improves overall community safety by giving undocumented residents better access to local authorities, allows cardholders access to "basic services" like cashing checks and seeing a doctor, and decreases problems of racial profiling. CPD explained the goals of municipal IDs in their report:
Improve community safety by making it easier for those without state-issued ID to interact with local authorities. Improve access to financial services by providing a form of ID that will allow those without other forms of identification to open bank accounts. Mitigate impact of racial profiling. Make symbolic statement of welcome and solidarity to immigrant residents. Promote unity and sense of membership in the local community among all residents. [Center for Popular Democracy, December 2013]Catholic Legal Immigration Network: "Offering Municipal ID Cards To All City Residents Is Fundamentally Fair." In an April 14 memo, the Catholic Legal Immigration Network (CLINIC) asserted that cities throughout the US should issue municipal ID cards to all residents and that doing so would allow marginalized residents access to basic necessities like community safety, housing, health care at local clinics, and financial services:
All residents deserve the right to be identified. The ability to prove one's identity is a fundamental human right - not a privilege. Municipal ID cards allow all residents the opportunity to participate more fully in the economy and meet their basic needs such as buying groceries. Paying for purchases with a check, credit card, or debit card often requires an ID. Identification will enable card holders to access services essential to their families such as renting apartments, obtaining utilities, accessing health clinics, filling prescriptions, acquiring insurance, and picking up their children at school. Enabling individuals to open bank accounts so that they don't have to carry their savings protects them from theft. Access to banking services allows people to save to support their families and to participate more easily in the economy.[...]
The ability to prove one's identity increases the likelihood that an individual will report a crime and file a police report. In particular, those without immigration status will be less fearful of detention and deportation. Law enforcement will spend less time and fewer resources identifying individuals when all residents are eligible for municipal ID cards. Police will be able to focus on protecting the public. When all city residents can prove their identity, city employees such as firefighters and EMTs can better serve everyone. [Catholic Legal Immigration Network, April 2014]CNN: San Francisco Implemented Municipal ID Program To Address Public Safety Concerns For Immigrants. On February 24, CNN reported that San Francisco city officials implemented a municipal ID program to address the "serious public safety problem" that occurs when immigrant victims are unable to report crime to local police:
"Residents without access to bank accounts often carry large amounts of money on them or store it in their homes, making them targets for crime. And, those who can't produce proof of identity are often reluctant to report crimes to the police," said Megan A. Caygill-Wallach of the San Francisco city administrator's budget and planning office.
Although immigrants are victimized by crime at rates similar to or greater than the general population, they report crime at lower rates, according to studies. The underreporting of crime poses a serious public safety problem and erodes the ability of law enforcement to function effectively in the city. [CNN, 2/24/14]
Other Marginalized Residents Also Benefit From Municipal IDsCatholic Legal Immigration Network: Municipal IDs Help Other "Vulnerable Residents" Like The Elderly. In its 2014 memo, CLINIC argued that municipal IDs also help the elderly, low-income residents, the homeless and the recently incarcerated:
Municipal ID cards will help our most vulnerable residents, including undocumented immigrants, victims of domestic violence or natural disaster, the homeless, low-income senior citizens, and the formerly incarcerated. The ability to prove one's identity fosters a sense of pride, belonging, and shared community and facilitates integration and participation in civic life. When residents can access the services necessary to take care of themselves and their families, communities become socially and economically stronger. [CLINIC, 4/2014]Source
How Twitter vaulted 'Abolish ICE' into the mainstream
How Twitter vaulted 'Abolish ICE' into the mainstream
Ana Maria Archilla the co-executive director of Center for Popular Democracy, said that at first progressives "were...
Ana Maria Archilla the co-executive director of Center for Popular Democracy, said that at first progressives "were worried about the political implications."
But "when Randy could say it in rural Wisconsin, in Paul Ryan, territory,” she continued, activists felt they had made a breakthrough.
Read the full article here.
NYC immigrants fear raids as city fails to destroy ID card records
NYC immigrants fear raids as city fails to destroy ID card records
New York was alone in 10 U.S. ID card programs — including San Francisco and neighboring Newark, New Jersey — in...
New York was alone in 10 U.S. ID card programs — including San Francisco and neighboring Newark, New Jersey — in storing applicants' personal data, according to a report by the charity the Center for Popular Democracy in 2015.
Read the full article here.
For immigrants fighting deportation, a push for government-funded lawyers
For immigrants fighting deportation, a push for government-funded lawyers
Nearly 4,000 immigrants in the Washington region face deportation every year without a lawyer, according to a report...
Nearly 4,000 immigrants in the Washington region face deportation every year without a lawyer, according to a report that calls on area governments to follow the lead of New York and Los Angeles and provide funding for legal aid to immigrants.
The Center for Popular Democracy, a national nonprofit organization, analyzed thousands of deportation cases at immigration courts in Baltimore and Arlington and found that immigrants were far more likely to prevail if they had a lawyer...
Read full article here.
Steve Forbes: 'Tax-and-Spend Fever' Is Breaking Out Over Highway Fund
Steve Forbes, editor-in-chief of Forbes Media, isn't too impressed with proposals in Congress to finance transportation...
Steve Forbes, editor-in-chief of Forbes Media, isn't too impressed with proposals in Congress to finance transportation spending with tax hikes.
"Uh-oh! Washington is coming down with another tax-and-spend fever," he writes in Forbes magazine. "The cause this time is an old-timer: highway spending. The prospect of ladling out more money for roads even has many Republicans acting like dogs in heat."
The Highway Trust Fund, which finances most transportation programs, is broke, Forbes explains. About 90 percent of the fund's money comes from federal gasoline and diesel taxes. And that's not sufficient now to pay for existing projects.
"What to do? In Washington the answer is almost always more taxes," Forbes says. To finance the fund, politicians want to boost gasoline taxes and levy a tax on companies' foreign earnings.
So what should be done for the highway fund? "Just pump in general appropriations," Forbes recommends. "Then return the fund to its original 1950s purpose: to build and maintain the federal Interstate Highway System, period."
Elsewhere on the economic policy front, Connie Razza, director of strategic research at the Center for Popular Democracy, says that while the Great Recession officially lasted from December 2007 until June 2009, for many Americans, it's still not over.
And that's a good reason for the Federal Reserve to refrain from raising interest rates soon, she writes in The Nation.
Most economists expect the Fed to lift short-term rates off their record low in either September or December. "A Fed decision to raise rates amounts to a vote of confidence in the economy—a declaration that we have achieved the robust recovery we need," Razza says.
"But for many millions of Americans, the recovery has yet to arrive, and for them, a rate hike will be disastrous. It will put the brakes on an economy still trudging toward stability, stall progress on unemployment and slow wage growth even more."
The unemployment rate fell to a seven-year low of 5.3 percent in June, but wages have averaged an annual increase of just 2 percent since the Great Recession ended.
Source: NewsMax Finance
When Lawsuits Protect Hardhats
New York Daily News - April 17, 2014, by Errol Louis - New York is about to embark on a historic building boom — and...
New York Daily News - April 17, 2014, by Errol Louis - New York is about to embark on a historic building boom — and that has touched off a furious new round in a long-running battle about how to protect the health and safety of the workers who create the city’s glittering skyline. This month alone, two men have fallen to their deaths while working on midtown buildings under construction — a grim reminder that the skyscrapers we boast about come at a high cost, and sometimes a tragic one.
We’ll see many more projects get off the ground in the months ahead. The de Blasio administration is set to announce plans this week to rebuild areas devastated by Hurricane Sandy, and in early May will unveil a larger plan for building or maintaining 200,000 units of housing.
That’s a lot of work to be done — and thousands of men and women needed to engage in one of the most dangerous professions in America.
In 2011 and 2012, a staggering 1,513 construction workers died on the job nationwide, more than in any other industry, according to Public Citizen, a national think tank. Thirty-six of them were in New York City.
“You literally see people who are not making a ton of money losing their lives to grow the economy of this city,” says Jose Duffy, a policy advocate at the Center for Popular Democracy, a Brooklyn-based nonprofit group.
“These are people literally dying because employers aren’t putting in basic safety regulations.”
At the center of the current fight is Local Law 240, also known as the Scaffold Law, which allows construction workers who get injured or killed on the job to sue the companies that hired them. The law was passed in the 1880s as New York began constructing the world’s first skyscrapers — and losing workers maimed or killed as the structures went up.
The construction industry has been trying for more than a century to shrink or repeal the law, and allow firms to avoid or limit liability if they can prove that an accident was the fault of the dead or injured worker. Industry lobbyists duly prowled the halls of the statehouse this year.
Lawsuits are a less-than-perfect way to force the industry to take safety seriously, but there aren’t many alternatives. Public Citizen estimates it would take the Occupational Safety and Health Administration more than 100 years to inspect every New York State construction site even once.
So workers sue when they get hurt on unsafe job sites, and insurance companies charge building companies hefty premiums in exchange for paying the claims of those killed or injured workers. A recent report by pro-industry researchers at SUNY’s Rockefeller Institute estimates that the law costs New York $150 million in economic output and 12,000 jobs — expenses imposed by insurance companies, which charge construction firms.
Duffy’s group, in turn, issued its own report this week attacking the methods and motives of the Rockefeller Institute study.
While the political battle goes on in Albany, people like Walter Cabrera are caught in the middle. Speaking through a translator, Cabrera, who came here from Peru a decade ago, told me how his supervisor had him work on a defective scaffold at 240 West Broadway in 2011.
The rig didn’t have hand rails, and Cabrera ended up falling and injuring his knee, wrist and elbow. Three years and two surgeries later, he remains unable to work and is in the process of suing the company that hired him.
While Cabrera waits out the legal process in his Jackson Heights apartment, the building he helped construct — a swank Tribeca condo now called 1 North Moore — has a penthouse that listed at $8 million and units that sold for $5 and $6 million, according to curbed.com.
It would be unthinkably immoral to build the city on the injured backs of disabled immigrant workers. Until there’s a better alternative, it looks like the Scaffold Law is here to stay.
Source
Hundreds of New Yorkers gather at MOMA PS1 to raise money for Puerto Rico
Hundreds of New Yorkers gather at MOMA PS1 to raise money for Puerto Rico
The movement to help hurricane ravaged Puerto Rico continues. Hundreds of New Yorkers attended a fundraiser at MOMA PS1...
The movement to help hurricane ravaged Puerto Rico continues. Hundreds of New Yorkers attended a fundraiser at MOMA PS1 in Long Island City Wednesday night.
According to organizers, all the money raised for the Hurricane Maria Community Relief and Recovery Fund will go towards relief work and supplies on the island.
Watch the video and read the article here.
Report Calling for More Oversight to Prevent Charter School Fraud Draws Rebuke
LA Times - March 23, 2015, by Zahira Torres - California lawmakers must strengthen financial oversight of charter...
LA Times - March 23, 2015, by Zahira Torres - California lawmakers must strengthen financial oversight of charter schools to stem cases of fraud and mismanagement that have already cost taxpayers $81 million, according to a new report from several advocacy groups.
The report by the Center for Popular Democracy, the Alliance of Californians for Community Empowerment Institute and Public Advocates Inc., said state and local leaders rely too heavily on self-reporting through whistleblowers or audits paid for by charter school operators. Local leaders also lack the staff and training to monitor charter schools and identify fraud, according to the report.
But the California Charter Schools Assn. offered a swift rebuke of the report in a two-page statement that said the authors offered dated examples of fraud and did little to prove that systemic problems exist.
The report pointed to cases that revealed $81 million in misused funds at charter schools over the last two decades, but said those do not reflect the true cost to taxpayers because weak financial controls allow fraud and mismanagement to go undetected.
Last year, the Los Angeles County Board of Education revoked the charter for Wisdom Academy of Young Scientists after auditors found that administrators funneled $2.6 million to the former director, her family and close associates.
“Given the rapid and continuing expansion of the charter school industry and the tremendous investment of public dollars, California must act now to reform its oversight system," the report said. "Without reform, California stands to lose millions of dollars as a result of charter school fraud, waste and mismanagement.”
The report said more focus must be placed on the state's 1,000-plus charter schools which received $3 billion in public funding last year.
Charter schools are publicly-funded but privately managed.
The California Charter Schools Assn. released a two-page statement Tuesday questioning the accuracy of the report and the authors' intentions. The group said it agreed that public dollars should be used appropriately, but argued that the report offered few examples of fraud.
In those cases, charter schools closed or made large-scale changes that helped prevent fraud in the future, according to the association.
"While we don't presume to understand the motives behind this report, we do know that California is a state where the charter school sector, authorizers and legislators have come together to put into place real solutions," the group said in the statement.
Recommendations in the report include mandating audits that would be specifically geared toward preventing fraud; requiring charter schools to set up internal risk management programs that would conduct annual fraud risk assessments; ranking charter audits by level of fraud risk and denying requests for new charter schools that do not commit to fraud controls.
The report did not study oversight policies or make recommendations for traditional public schools.
"To assume that there is greater risk at charter schools than school districts, particularly in light of all the real time oversight on financial reports, is simply unfounded," the charter school association said in its statement.
Kyle Serrette, director of education at the Center for Popular Democracy, said many public school systems employ internal auditors and have developed policies to help prevent fraud. But he said public schools should face the same scrutiny.
“There is no proactive system to monitor for fraud, waste and abuse,” Serrette said about the charter schools studied in the report. “California set up a system that prosecutes fraud rather than prevents it.”
He added, "We want to be able to detect the sheep from the sheep in wolves' clothing.”
Source
Group calls on Charlie Dent to pass immigration reform
WFMZ-TV – August 20, 2013, by Will Lewis - ALLENTOWN, Pa. – A group rallying for immigration reform is taking its...
WFMZ-TV – August 20, 2013, by Will Lewis -
ALLENTOWN, Pa. – A group rallying for immigration reform is taking its message to Lehigh Valley Congressman Charlie Dent and other Republicans. They want action now but no action will be taken until Congressional leaders return to Washington in September.
“I am one of millions of children that had to be separated from their parents because of a broken immigration system,” said Tatiana Tooley, a community activist speaking to the group.
This group hopes Senate Bill 744, immigration reform, is the first topic Congress discusses.
“If the GOP supports this, the GOP is making a statement that they truly value family unity,” added Tooley.
Lehigh Valley Congressman Charlie Dent says he does support immigration reform. He also knows the issue is a complicated one.
“Immigration reform will be dealt with,” said Dent. “It will be dealt with a bit differently than the Senate which chose to take up one massive bill. The House will deal with this in pieces.”
Senate Bill 744 has already passed and some wish congressional leaders would look at that piece of legislation first before coming up with a new set of rules.
“If they have another bill it will take more time,” said organizer, Fernando Vazquez.
“We’ve gotten away from a dialogue and we’ve polarized on not only this issue but a lot of issues,” said Allentown Mayor Ed Pawlowski. “We’ve polarized on one side or the other. that’s not how good government works.”
The people say waiting means more children separated from their families, and more people waiting to live the American dream.
“We have to deal with this thing responsibly,” said Dent. “I think we can and I think we can get there. But it’s going to be a lot of work.”
“The new leader could be Charlie Dent and one way to show leadership is passing this bill,” added Vazquez. “Because many people will vote for a Republicans, they need to remember that.
Source
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