Fed Should “Freeze Interest Rates, Involve Citizens” Says Neighborhoods Organizing For Change
The Uptake - March 10, 2015, by Bill Sorem - Not everybody is benefiting equally from the economic recovery. A new...
The Uptake - March 10, 2015, by Bill Sorem - Not everybody is benefiting equally from the economic recovery. A new report shows in Minnesota blacks are suffering disproportionally to whites when it comes to employment.
Anthony Newby, Executive Director of Neighborhoods Organizing for Change (NOC), delivered a report of about the current economic state of people of color in Minnesota and specifically the current and possible role of the Federal Reserve Bank. The new report from the Center for Popular Democracy says since 2000, wages in Minnesota have declined by 4.5%, current unemployment rate for blacks is 10.9% vs a white rate of 2.8%.
This is the link to the full report “Wall Street, Main Street, and Martin Luther King Jr. Boulevard: Why African Americans Must Not Be Left Out of the Federal Reserve’s Full-Employment Mandate”
Newby argues that the Fed in addition to controlling interest rates, can control the rate of unemployment. He and Rev. Paul Slack, ISIAH President, ask that interest rates be kept at the current levels and that the Fed work to reduce unemployment.
Why there is a Federal Reserve
The nation’s central bank, the Federal Reserve, was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics. There had been strong resistance to a central bank since the founding of the nation. The Fed was given the power to print money, establish bank interest rates and a number of sweeping powers. It is an independent entity within government, ownership of each of the 12 banks is claimed be the member banks, but the actual fiscal ownership is obscure. The ability to print money and loan it to the government is at the heart of its power and for many, a controversial power. President Kennedy challenged the authority of the Fed with Executive Order 11110, June 4, 1963 and he attempted to eliminate our current paper money, the Federal Reserve Note replacing it with US Notes. He did not succeed.
Newby further requested more transparency in the actions of the Fed and asked for more ordinary citizen participation. The current president of the Federal Reserve Bank of Minneapolis, Narayana Kocherlakota, has indicated a willingness to keep interest rates low and to move towards more citizen participation in the actions of the Fed. However, he retires in a year. Newby would like citizens to have input on his successor.
Rev. Slack asked for justice and compassion in the Fed policies, in part to undo past unfair actions.
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Fed Up Coalition Complains About Jackson Hole Room Cancellations
Fed Up Coalition Complains About Jackson Hole Room Cancellations
A group of activists planning to attend the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson...
A group of activists planning to attend the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyo., has filed a complaint with the National Park Service, the Department of the Interior’s Inspector General’s Office and the Justice Department after the conference hotel canceled the group’s room reservations.
The Center for Popular Democracy’s Fed Up Coalition said in an Aug. 9 letter that it booked 13 rooms in May at the Jackson Lake Lodge for its members for the nights of Aug. 24, 25 and 26. Last month, the lodge informed the group that their reservations had been canceled because of a “computer glitch,” according to the letter.
But the lodge didn’t cancel the reservations for other guests who booked after Fed Up did, said the letter written by Ady Barkan, campaign director of Fed Up, a left-leaning group that has lobbied for more diversity among Fed officials and more openness about the selection of regional Fed bank presidents.
“It is very hard for me to interpret the Company’s actions as anything other than a specific targeting of the Fed Up coalition,” he wrote in the letter.
Mr. Barkan said the group booked rooms at other hotels farther away from the conference, which will make it difficult for activists to attend events.
The Jackson Hole conference draws central-bank officials and economists from around the world who gather near the Grand Tetons to discuss monetary policy.
Fed Up members have been attending the conference for the past two years to urge Fed officials to hold off on raising interest rates, arguing that higher borrowing costs will slow economic growth and hurt low-income households. The group’s members often hold events and rallies near Fed events, wearing their signature green T-shirts.
A spokesperson for the Jackson Lake Lodge didn’t return a call for comment. Kathy Kupper, a spokeswoman for the National Parks Service said the lodges are run by independent contractors who are responsible for their day-to-day operations.
Mr. Barkan said he was writing the letter “to file a formal complaint regarding improper and potentially illegal behavior,” by the company.
By David Harrison
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Más hispanos mueren en NY en trabajos de construcción
El Diario – October 25, 2013, by Juan Matossian - En el 60% de los casos de fallecimientos por caídas,...
El Diario – October 25, 2013, by Juan Matossian -
En el 60% de los casos de fallecimientos por caídas, investigados entre 2003 y 2011 en el estado, la víctima era latino y/o inmigrante
Los obreros de construcción hispanos e inmigrantes sufren muchos másaccidentes y muertes por caídas que otros trabajadores del mismo gremio, debido a las pobres condiciones de seguridad en las que trabajan en el estado de Nueva York, según reveló un estudio.
El reporte, comisionado por el Center for Popular Democracy, muestra que en el 60% de las muertes por caídas en los accidentes, investigados entre 2003 y 2011 en el estado, el fallecido era latino y/o inmigrante.
En la ciudad, esta cifra se incrementa hasta casi el 75% – tres de cada cuatro – a pesar de que sólo supone el 40% de la fuerza total de trabajo en ese reglón.
Encuestas realizadas a empleados latinos evidenciaron que muy pocos se atreven a quejarse por las condiciones de seguridad por temor a represalias de sus jefes.
Problemas de seguridad
Ese fue el caso de Pedro Corchado, un obrero que cayó desde una escalera durante la renovación de un edificio hace cinco años, y sufrió graves heridas por no contar con un arnés de seguridad.
“Casi cualquiera que trabaje en construcción te dirá que es muy difícil negarse a las órdenes de escalar un andamio que no es seguro o subir una escalera sin equipamiento de seguridad”, dijo Corchado. “Para la mayoría de trabajadores como yo, decir ‘no’ al jefe simplemente no es una opción”.
El grupo que elaboró el estudio y otras organizaciones que defienden a estos trabajadores, argumentaron que la mejor manera de detener esta tendencia es aumentar los fondos deOSHA, porque ahora mismo la oficina no cuenta con los suficientes medios ni inspectores.
Calcularon que, para que OSHA inspeccione cada lugar de construcción que hay actualmente en Nueva York, les llevaría 107 años.
Por otro lado, hicieron un llamado para que se proteja la llamada “Ley del Andamio”, que ayuda a asegurar las condiciones de seguridad en los sitios de construcción y que varios promotores inmobiliarios presionan para que se derogue porque incrementa significativamente el coste de nuevos edificios.
“En lugar de invertir en la seguridad en el trabajo, la comunidad de negocios quiere que la responsabilidad por heridas y muertes pase a los que son más vulnerables y no tienen control sobre las condiciones laborales”, denunció Joel Shufro, director ejecutivo delComité para Seguridad y Salud en el Trabajo de Nueva York. “Pondría a todos los obreros de construcción en riesgo, particularmente a los jornaleros y a los no sindicados”.
Una última petición es que se tomen medidas para asegurar que tanto los promotores, dueños y trabajadores de la construcción, reciban entrenamiento de seguridad de acuerdo con los estándares de OSHA.
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Fed Chairwoman: African-Americans Have Not Recovered from Economic Downturn
Fed Chairwoman: African-Americans Have Not Recovered from Economic Downturn
Federal Reserve Chairwoman Janet Yellen delivered her semiannual testimony on the U.S. economy and monetary policy to...
Federal Reserve Chairwoman Janet Yellen delivered her semiannual testimony on the U.S. economy and monetary policy to the Senate Banking Committee Tuesday. In her prepared remarks, Yellen acknowledged that the country’s economic recovery has not fully extended to the African-American population.
“Jobless rates have declined for all major demographic groups, including for African-Americans and Hispanics,” Yellen said. “Despite these declines, however, it is troubling that unemployment rates for these minority groups remain higher than for the nation overall, and that the annual income of the median African-American household is still well below the median income of other U.S. households.”
An accompanying report revealed that the median Black household income in 2014 was $40,000, which means African-American households are earning just 88 percent of their pre-recession incomes.
The 2014 median white household income was $67,000. According to the report, white, Asian and Hispanic households have regained 94 percent of their pre-recession earnings.
Furthermore, unemployment rates for African-Americans continue to be lower than they were prior to the recession, compared to white unemployment rates, which have nearly returned to original levels.
The Fed has faced growing criticism from activists and lawmakers who accuse the banking system of ignoring the economic disparity faced by minorities in the U.S. Supporters say Fed-controlled interest rates have a direct impact on the economic success of Black Americans.
Tuesday’s comments were a stark contrast to the position taken by Yellen last July, when she argued there was nothing the Reserve could do “about any particular group.”
The statements fired up Connie Razza, director of strategic research at the Center for Popular Democracy, who issued a statement in response.
“With African-Americans still mired in our own Great Recession, we should be hearing a positive vision from the Fed on how to foster full employment,” Razza said on behalf of the Fed Up Coalition. “While the economy is complex and the Federal Reserve’s tools are limited, there is plenty the Fed can do to improve the labor market for Black workers and to reduce racial inequality in the job market.”
The Fed Up Coalition is a consortium of labor unions, community-based organizations and policy think tanks fronted by the Center for Popular Democracy and Action for the Common Good. The group maintains that the economic upswing is a myth for most demographics and stresses that keeping interest rates low will give the economy a chance to truly recover for everyone. Modest rates will raise wages, bringing the country closer to full employment and eliminating the need for discriminatory hiring practices, according to the campaign.
During Yellen’s February address to the House Financial Services Committee, several Democrats pressed the issue of Black unemployment rates.
“Nobody is suffering from unemployment like the African-American community,” Georgia Rep. David Scott said at the hearing, per CNN. “We have got to get the Fed to get off the dime and put the issue of African-American unemployment on the front burner. That is the core of all of the domestic issues that we’re facing.”
The unemployment rate for African-Americans in May was 8.2 percent, which was double the rate of whites at 4.1, according to the Bureau of Labor Statistics.
By Shaundra Selvaggi
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FL-Sen: Nelson (D) Refuses To Let Trump Privatize Air Traffic Control, PCCC Pushes Dems To Join Him
FL-Sen: Nelson (D) Refuses To Let Trump Privatize Air Traffic Control, PCCC Pushes Dems To Join Him
Here’s another big fight to get ready for: "President Donald Trump threw his weight behind a proposal to privatize the...
Here’s another big fight to get ready for:
"President Donald Trump threw his weight behind a proposal to privatize the nation’s air traffic control system on Monday, and a White House adviser called the multibillion dollar effort “low-hanging fruit” that can get through Congress quickly.
Florida Sen. Bill Nelson doesn’t see it that way."
Read the full article here.
Bar bank executives from regional Fed boards, says Yellen's ex-advisor
Bar bank executives from regional Fed boards, says Yellen's ex-advisor
A former top Federal Reserve policy advisor said on Monday that bank executives should be barred from serving on the...
A former top Federal Reserve policy advisor said on Monday that bank executives should be barred from serving on the boards of the Fed's 12 regional outposts, Fed policymakers should serve just seven years, and monetary policy should be subject to an official annual review.
The proposals from Dartmouth College Professor Andrew Levin represent substantial change for the Federal Reserve.
Banks currently appoint six of the nine members of regional Fed bank boards, policymakers often serve a decade or more before retiring, and the details of monetary policymaking have always been a closely guarded secret, with transcripts of meetings released only after a five-year interval.
Levin, who advised Fed Chair Janet Yellen when she was Fed vice chair, released the proposals via the Fed Up Coalition, a network of community organizations and labor unions calling for change to the U.S. central bank. It is unclear how they will be received by other Fed critics who have called for even more sweeping changes, or the 101-year-old institution itself, which has largely resisted reform proposals.
The Fed has come under increasing fire in recent months from both Democrats and Republicans for what they say is a lack of accountability and transparency, with lawmakers and presidential candidates calling for a wide range of limits on the Fed's powers.
In response, some current and former Fed officials have begun to call for steps to placate the U.S. central bank's harshest critics.
Levin on Monday also called for the process of appointing Fed bank presidents to be more transparent and to involve the public. Currently Fed bank presidents are chosen in a closed-door process run by each bank's board and approved by the Washington-based Fed Board.
Reporting by Ann Saphir; Editing by Meredith Mazzilli
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National advocacy groups are backing the sick-leave effort in Texas
National advocacy groups are backing the sick-leave effort in Texas
National advocacy groups based mostly in Washington, D.C., and Brooklyn, N.Y., were responsible for $1.8 million of the...
National advocacy groups based mostly in Washington, D.C., and Brooklyn, N.Y., were responsible for $1.8 million of the $2.5 million contributed and loaned to the political action committee leading the effort to mandate paid sick leave for workers in Texas...The other major outside donors include...$95,000, Center for Popular Democracy, Brooklyn, N.Y.
Read the full article here.
No Factions in Foxholes
By focusing chiefly on the surge in middle-class activism, says Andrew Friedman of the Center for Popular Democracy,...
By focusing chiefly on the surge in middle-class activism, says Andrew Friedman of the Center for Popular Democracy, the news media are overlooking a similar surge “in many of these front-line communities, brown and black communities, working-class communities.”
Read full article here.
High Road Workweek Partnership Invites Employers to Adopt a Fair Workweek
High Road Workweek Partnership Invites Employers to Adopt a Fair Workweek
As more retailers declare nationwide reforms to their scheduling practices – from ending on-call scheduling to...
As more retailers declare nationwide reforms to their scheduling practices – from ending on-call scheduling to providing greater advance notice – there is increased industry interest in understanding the impact of difficult work schedules on employees. Leading-edge employers are also starting to quantify the down-stream effects of ever-changing work schedules and excessive reliance on part-time staff, including higher turnover, chronic absenteeism, lower productivity, and unsatisfactory customer service. Many industry leaders now recognize that predictable, stable and flexible work schedules are not just good for employees, but are essential to meeting operational, sales and growth objectives.
At the Next:Economy summit, the Center for Popular Democracy’s Fair Workweek Initiative will unveil the High Road Workweek Partnership, a groundbreaking approach to the future of work, which meaningfully incorporates employee voice and scheduling equity values into scheduling technologies and management practices.
Achieving a High Road Workweek involves three key components:
A Partnership of Core Stakeholders: With a 360 degree view from engaging diverse stakeholders, employers can assess the impact of their current scheduling practices and envision a sustainable workweek;
The High Road Workweek Pledge: Translates core business principles into specific scheduling practices that encompass: Predictability and Stability, Adequate Hours, and Employee Input and Flexibility, and Equal Opportunity and Mobility; and
Measurable Implementation and Assessment: Innovative scheduling technologies, guidance for managers, and clear metrics will facilitate implementation of the pledge, while ongoing feedback from employees and a research-based assessment will ensure that new policies deliver the intended outcomes.
The High Road Workweek Partnership delivers lasting scheduling solutions and provides a framework for employers who want to be strongly positioned in the global economy, leveraging the latest technologies and integrating corporate social responsibility into workforce management to create meaningful employment.
“Employers of our country’s hourly workforce are at a crossroads. The worrisome scheduling trends that have come to public attention are persistent and challenging issues that affect both workers and the longevity of a company’s success. Through a meaningful collaboration with employees, a commitment to core scheduling principles, and an innovative use of workforce management metrics, any business is capable of implementing a high road workweek,” says Carrie Gleason, Director of the Fair Workweek Initiative at the Center for Popular Democracy.
Professor Susan Lambert of the University of Chicago, a key architect in developing the framework for scheduling stability, says, “While this year marks tremendous progress in employers recognizing the costs that lean staffing and unpredictable scheduling has for both workers and business, employers will need to implement new metrics for their managers and find ways to incorporate more employee input to ensure these commitments to reform become consistent scheduling improvements. The High Road Workweek Partnership presents an innovative approach to helping employers implement measurable standards for fair work schedules across their operations.”
# # #
www.populardemocracy.org 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.
www.fairworkweek.org The Fair Workweek Initiative, anchored by the Center for Popular Democracy and CPD Action, is driving the growing momentum to restore a workweek that enables working families to thrive. We are committed to elevating the voices of working people to ensure they can shape the solutions that work for their families – whether through improved industry practices or new workplace protections.
Report: Charter Schools Pose $54M Fraud Risk
Utica Observer-Dispatch - December 13, 2014, by Alissa Scott - Charter schools have been accused of posing a $54...
Utica Observer-Dispatch - December 13, 2014, by Alissa Scott - Charter schools have been accused of posing a $54 million fraud risk to taxpayers, according to a new report.
The Alliance for Quality Education said vulnerabilities in the state’s charter system potentially could cause millions of dollars in fraud this year alone.
“There’s two parts of operating a charter,” said Kyle Serrette, director of the Education Center for Popular Democracy. “You need good educators — you have to provide academics — and you also need to know how to run a business. … What we’re seeing is folks that don’t know how to do either.”
Jessica Mokhiber, communications director of the Northeast Charter Schools Network, doesn’t agree with the report.
“Charter schools in New York are the most accountable public schools there are,” she said. “If they don’t perform, they close. Each year they are subject to outside audits. If they mismanage their finances, they close.”
The Utica Academy of Science, the city’s sole charter school, declined to comment on the report. Kelly Gaggin, chief communications officer of Science Academies of New York Charter Schools, said the school wants to wait until the comptroller report — the first audit it’s had since its founding two years ago — is released.
She said this will allow the school to “provide current examples and direct correlations that illustrate the checks and balances that are implemented to eliminate opportunities for malfeasance and provide exceptional stewardship of funds.”
They expect the report to be released early next year.
The AQE report found that 24 percent of charter schools in New York have been audited. The Comptroller’s Office audits about 2 percent every year, it said.
Part of what the agency is recommending is to have schools audited regularly with an external system to catch any internal flaws.
“A school could have not committed fraud in 2010, but they did in 2014,” Serrette said. “We’re spending $1.5 billion on charter schools. We need a system in place that makes sure those dollars are reported in some correct way.”
The most alarming part, Serrette said, is that 95 percent of the time the comptroller checked into a charter school’s finances, he found issues — some really bad, some just sloppiness.
Mokhiber said to “consider the source of the report.”
“These are groups who are trying every trick in the book to deny school choice to parents who have no other option,” Mohkiber said.
“The Utica Academy of Science charter school was started by the founders of the Syracuse Academy of Science charter school, which is a highly successful school with a track record of academic achievement,” Mohkiber said. “The Utica school is providing families with another public school option. The school emphasizes a science and technology education in a college prep setting, which sets students up for success in college or career.”
Either way, Serrette said this is something taxpayers should be paying attention to. And while it would cost them more money to hire extra auditors to check on all of the state’s charter schools, it will save money in the long run.
“You could hire more auditors to look at charter schools for $5 million, but if you end up catching $10 million of mismanagement, you’re $5 million ahead,” Serrette said.
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