Federal Reserve is too ‘white and male’, say Democrats
More than a hundred Democratic party lawmakers have written to Federal Reserve chair Janet Yellen complaining of a lack...
More than a hundred Democratic party lawmakers have written to Federal Reserve chair Janet Yellen complaining of a lack of diversity within the central bank system and a leadership that is “overwhelmingly and disproportionately white and male”.
The letter, signed by 11 senators and 116 representatives, calls on the Fed to do more to ensure its senior ranks reflect the country’s make-up in terms of gender, race and ethnicity, economic background and occupation. It also demands that the Fed place greater priority on securing full employment for minorities as it pursues its economic goals.
“When the voices of women, African-Americans, Latinos, and representatives of consumers and labour are excluded from key discussions, their interests are too often neglected,” the letter says. “By fostering genuine full employment, the Federal Reserve can help combat discrimination and dramatically reduce the disproportionate unemployment faced by minority populations.”
The signatories include senators Elizabeth Warren of Massachusetts, Bernie Sanders from Vermont and Kirsten Gillibrand from New York; and representatives including Maxine Waters, the ranking member of the Financial Services Committee and John Conyers from Michigan. All Democratic members of the Congressional Black Caucus put their names to the letter. It was not signed by Republican lawmakers.
The letter is the latest sign of political pressure on the Fed from both sides of the party divide. Republicans have been calling for greater Congressional scrutiny over the Fed amid persistent concerns about the ultra-loose monetary policy stance it has pursued since the financial crisis. Democrats, on the other hand, have urged Ms Yellen to maintain low interest rates in pursuit of higher employment, and in her most recent hearings before Congress Ms Yellen faced a barrage of complaints about the uneven economic progress seen between different races and ethnicities.
Eleven of the 12 regional Federal Reserve Bank presidents are white and 10 of the 12 are men. All of the 10 current voting members of the Federal Open Market Committee, which sets monetary policy, are white, while four of them are women. Members of the Fed’s Board of Governors, who rank among the top rate-setters, are selected by the president and confirmed by the Senate, but the Board of Governors has a key role in selecting the Fed’s regional bank presidents.
A spokesperson for the Federal Reserve Board said: “The Federal Reserve is committed to fostering diversity — by race, ethnicity, gender, and professional background — within its leadership ranks. To bring a variety of perspectives to Federal Reserve Bank and Branch boards, we have focused considerable attention in recent years on recruiting directors with diverse backgrounds and experiences.”
The Fed said that minority representation on its reserve bank and branch boards had increased from 16 per cent in 2010 to 24 per cent in 2016, while the proportion of women directors has risen from 23 per cent to 30 per cent over the same period. Some 46 per cent of all directors are “diverse in terms of race and/or gender”, the Fed added.
The Fed in December lifted interest rates for the first time in nearly a decade. It has since kept them on hold as it weighs up conflicting evidence about the strength of the recovery. Referring to monetary policy, the letter from the lawmakers urges Ms Yellen to “give due consideration to the interests and priorities of the millions of people around the country who still have not benefited from this recovery”.
Jesse Ferguson, a Clinton campaign spokesman, said: “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.”
By Sam Fleming
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Poughkeepsie Becomes Second City in NYS with a Municipal ID
Poughkeepsie Becomes Second City in NYS with a Municipal ID
“Emily Tucker, Senior Staff Attorney for Immigrant Rights at the Center for Popular Democracy, said, “I’ve written...
“Emily Tucker, Senior Staff Attorney for Immigrant Rights at the Center for Popular Democracy, said, “I’ve written reports on municipal IDs used in the development of over a dozen programs, and I regularly advise elected officials and advocates on best practices for municipal IDs. I’ve reviewed Poughkeepsie’s legislation, and I can say with confidence that it is among the strongest municipal ID ordinances I have encountered. Poughkeepsie’s legislation should represent the gold standard for municipal ID card programs in the country.”
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Health Care Activists Protest at Senator's Offices in the Capitol - Photo
Health Care Activists Protest at Senator's Offices in the Capitol - Photo
Activists protest against the Republican health care repeal-and-replace legislation at U.S. Sen. Ted Cruz's office in...
Activists protest against the Republican health care repeal-and-replace legislation at U.S. Sen. Ted Cruz's office in the Russell Senate Office Building on Capitol Hill July 19, 2017 in Washington, DC. Organized by the Center for Popular Democracy, Housing Works, National Nurses United and other organizations, dozens of people were arrested for protesting against the GOP attempts to end Obamacare.
See the photo here.
After Volkswagen scandal, can consumers trust anything companies say? (+video)
After Volkswagen scandal, can consumers trust anything companies say? (+video)
Adam Galatioto’s loyalty to diesel Volkswagens predates his ability to drive. The 29-year-old’s parents...
Adam Galatioto’s loyalty to diesel Volkswagens predates his ability to drive.
The 29-year-old’s parents first bought a Jetta TDI in 1998, and he drove the little sedan through high school, college, and a master’s program before selling it in 2013. Mr. Galatioto and his girlfriend now share a 2011 Jetta TDI SportWagen, which he helped encourage her to buy.
“They get really good mileage,” he says. “Mine got 50 m.p.g. on the highway. By proxy that means you are being environmentally friendly.”
He’s not alone. Volkswagen has long enjoyed a reputation for reliable engineering, cheerful affordability, and, largely thanks to its efforts in clean diesel, sustainability. In Consumer Reports’ 2014 survey on how people perceive leading car brands, the German automaker was singled out (alongside Tesla) for its fuel efficiency.
That made recent revelations that VW had duped environmental regulators for years, installing software on 11 million diesel vehicles worldwide allowing them to run cleaner during emissions tests than they did on the road, all the more unnerving.
“I don’t generally trust corporations on what they say, and this was so intentionally devious it just lumps them in with any other car company for me,” Galatioto says.
This is a worst-nightmare scenario for companies trying to attract customers that increasingly want to make not just quality or affordable purchases, but ethical ones. It’s an impulse nearly every consumer industry is racing to capitalize on, from restaurant chains shifting to cage-free eggs and fair-trade coffee to retailers pledging to raise wages and give workers more predictable scheduling.
But with such promises being made left and right, and especially in the wake of Volkswagen’s fall, conscientious consumers may be wondering: Can any of them really be trusted?
Not always, clearly, but there is some comfort to be had on that front. Brands that fail to deliver risk even greater financial and reputational fallout than ever before (Volkswagen lost a third of its stock value when the scandal broke, and it faces billions in future losses from EPA fines, repairs, and lost sales). Combined with effective third-party oversight, it’s a powerful motivator for companies on the whole to behave better, experts say.
Consumers, particularly younger ones, are armed with easier access to information about what they buy than previous generations, and it’s affecting their choices. Millennials (adults ages 21 to 34) are more than twice as likely as their Gen-X and baby boomer counterparts to be willing to pay extra for products and services billed as environmentally and socially sustainable, according to a 2014 Nielsen survey. They are equally more prone to check product labels for signs of sustainable and ethical production.
“There’s an increased attention to more intangible characteristics of a product,” says Dutch Leonard, a professor who teaches corporate responsibility and risk management at Harvard Business School. “When I buy a shirt, it has a particular color, it’s soft, or wrinkle-free. But now people are also paying attention to where it was made, if the workers are being exploited, and if the company is environmentally conscious or not.”
This makes responsible changes effective marketing tools, which can create domino effects as companies try to keep up with and outdo standards in their particular industries. When Wal-Mart, the biggest retailer in the world, raised its minimum pay rate at the beginning of this year, competitors such as Target and Kohl’s quickly followed suit. The success of Chipotle, which has a carefully detailed food-sourcing policy, has been followed by major supply chain overhauls for McDonald’s, General Mills, and other giants of the corporate food world.
“Customers want 'food with integrity,' ” Warren Solochek, a restaurant-industry analyst with NPD Group, a market-research firm, told the Monitor in May. “[Companies] that choose locally sourced, fresh ingredients can put that on their website and know that people are looking at it.”
But especially for major corporations, “when you say you are doing things, you will attract attention from outside business groups," Professor Leonard says. "You can bet some NGO [nongovernmental organization] is going to try and figure out if that’s true or not.”
Indeed, Volkswagen isn’t the first brand to have its positive positioning face pushback, especially as global companies work to strike an operational balance between ethics and profitability. Wal-Mart’s wage hikes were followed by cutbacks in worker hours when the retailer’s earnings suffered, a move that led labor advocacy groups to call the earlier wage hikes “a publicity stunt.” Earlier this week, the Center for Popular Democracyreleased a report showing that Starbucks has so far failed to live up to a much-publicized vow from a year ago to give workers more consistent schedules.
While Volkswagen eluded the Environmental Protection Agency, it was eventually found out by the International Council on Clean Transportation, an independent nonprofit aided by researchers at West Virginia University.
In addition to catching such discrepancies, watchdog groups can be helpful in weeding out credible claims of positive change from the less so. In the mid-2000s, the Unions of Concerned Scientists’ annual environmental consumer guide largely dispelled the idea that washable cloth diapers are significantly better for the environment than disposable ones.
Furthermore, some major corporations and industry groups have partnerships with independent, NGO-like organizations to set ethical industry standards and submit to outside monitoring. Unilever, for example, teamed up with the the World Wide Fund for Nature (WWF) in the 1990s to create the Marine Stewardship Council, a certification program for sustainable fisheries. In 2008, Starbucks embarked on a decade-long project with Conservation International to improve the sustainability of its coffee supply around the world. Home Depot sells lumber certified by an outside organization.
Such collaborations may not catch everything, Leonard says, but they are effective because they are “constructed in such a way that the [certification groups] are not beholden to an industry. We may not be able to get full agreement on the standards, but we might make real progress by creating safe harbors through development of standards that are negotiated in advance.”
Source: The Christian Science Monitor
Man with ALS who confronted Flake over tax law launches ‘Be a Hero’ campaign to beat Republicans
Man with ALS who confronted Flake over tax law launches ‘Be a Hero’ campaign to beat Republicans
The minute-long ad, which will run on television and online ahead of the April 24 election for Arizona’s 8th...
The minute-long ad, which will run on television and online ahead of the April 24 election for Arizona’s 8th Congressional District, is the first product of Barkan’s new Be a Hero Fund — an outgrowth of the Center for Popular Democracy’s CPD Action, the organization that Barkan has worked with as he’s protested Republican-backed tax and health-care bills.
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Retailers' Goal of Challenging Amazon Hindered by Labor Woes
Brick-and-mortar retailers hoping to fend off Amazon.com Inc. need to deploy the one weapon that could set them apart:...
Brick-and-mortar retailers hoping to fend off Amazon.com Inc. need to deploy the one weapon that could set them apart: top-notch customer service, provided by actual humans.
But making that goal a reality relies on something they’ve not really invested in -- well-trained employees with the kinds of wages and regular hours that make them want to stick around.
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NYC’s Indian-American Commissioner of Immigrant Affairs strives for inclusive city
NYC’s Indian-American Commissioner of Immigrant Affairs strives for inclusive city
The seeds of social activism were planted early in Nisha Agarwal’s bloodstream. The current Commissioner of Immigrant...
The seeds of social activism were planted early in Nisha Agarwal’s bloodstream. The current Commissioner of Immigrant Affairs in Mayor Bill de Blasio’s office took up causes and showing her community organizing skills since she was a little girl.
Her parents, psychologist mother Rita Agarwal, and father, Suresh Agarwal, a nuclear engineer, encouraged her to speak her mind and back it with action, she recalls. Agarwal is among numerous Indian-Americans of this generation who have brought their social activism into public office and policy reform from inside, after banging on doors from the outside.
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Activists Call on Fed Chief to Focus on Struggles of Citizens
The China Post - November 16, 2014 - In a rarity for a U.S. central bank chief, Federal Reserve Chair Janet Yellen met...
The China Post - November 16, 2014 - In a rarity for a U.S. central bank chief, Federal Reserve Chair Janet Yellen met Friday with activist groups calling for a fairer economic recovery and a more transparent Fed.
About 20 representatives of community and labor organizations met with Yellen for an hour in the meeting room of the policy-setting Federal Open Market Committee, the activists said.
The groups were banded together as “Fed Up: The National Campaign for a Strong Economy,” lobbying Yellen and her team to orient Fed policy to boost employment and wages.
In addition to Yellen, Fed Vice Chairman Stanley Fischer and board members Lael Brainard and Jerome Powell participated in the meeting.
“We had a very good conversation,” said Ady Barkan, representing the Center for Popular Democracy.
The activists presented their views about conditions in the economy to the Fed officials and “they listened very carefully,” Barkan said.
Yellen “asked people questions about their personal experiences in the economy,” he added.
The coalition gave the Fed officials a list of six proposals to make the central bank more transparent and democratic.
“The economy is not working for the vast majority of people,” Barkan said.
“The Federal Reserve has huge influence over the number of people who have jobs, over our wages ... and yet we don't have discussion and engagement over what Fed policy should be.”
Wearing T-shirts emblazoned with “What recovery?” the activists criticized the Fed's isolation from the general public.
“Our wages are on a flat line for 30 years,” said Anthony Newby, director of Minnesota Neighborhoods Organizing for Change, which wants the Fed to give interest-free loans to cities so they can create jobs in infrastructure projects.
With two regional Fed bank presidents preparing to step down — Charles Plosser for the Philadelphia Fed and Richard Fisher at the Dallas Fed — the coalition is pressing for a transparent process for selecting their successors.
The Philadelphia Fed said on its website Friday that the executive search firm it hired has set up an email address to receive inquiries in the interest of helping the bank “in a broad search for its next president.”
“Philadelphia has hovered around eight percent unemployment for all of 2014; in the black community it's over 14 percent,” said Kati Sipp, head of Pennsylvania Working Families and a “Fed Up” activist.
“We want the Fed to spend some time in the neighborhoods where regular working people live.”
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Hillary Clinton lays out sweeping voting fights vision
In a major speech on voting rights Thursday, Hillary Clinton ...
In a major speech on voting rights Thursday, Hillary Clinton laid out a far-reaching vision for expanding access to the ballot box, and denounced Republican efforts to make voting harder.
Speaking at Texas Southern University in Houston, Clinton called for every American to be automatically registered to vote when they turn 18 unless they choose not to be. She backed a nationwide standard of at least 20 days of early voting. She urged Congress to pass legislation strengthening the Voting Rights Act, which was gravely weakened by a 2013 Supreme Court ruling. And she slammed restrictive voting laws imposed by the GOP in Texas, North Carolina, Ohio, and Wisconsin, which she said affect minorities and students in particular.
“We have a responsibility to say clearly and directly what’s really going on in our country,” Clinton said, “because what is happening is a sweeping effort to dis-empower and disenfranchise people of color, poor people, and young people from one end of our country to the other.”
“We should be clearing the way for more people to vote, not putting up every road-block anyone can imagine,” Clinton added.
From a political perspective, forthrightly calling out Republican voting restrictions and advocating greater access to voting will likely help Clinton shore up key sections of her base – minorities and students in particular. And it could put the GOP on notice that further efforts to make voting harder may backfire by giving Democrats a tool to motivate their supporters.
Clinton, the prohibitive front-runner for the Democratic presidential nomination, called out by name several of her potential 2016 rivals – Rick Perry, Scott Walker, Jeb Bush, and Chris Christie – for supporting restrictive voting policies. She said Republicans should stop “fearmongering about a phantom epidemic of voter fraud.”
“Finally, a presidential candidate is acknowledging the rampant voting discrimination that has surged since the Voting Rights Act was gutted in 2013,” Wade Henderson, CEO of the Leadership Conference on Civil and Human Rights, told msnbc. “Voting is a cornerstone of our nation’s commitment to democracy, and Clinton’s acknowledgment of its importance is noteworthy.”
Clinton said relatively little about the most hot-button voting issue, voter ID – an approach that also appears politically savvy. Despite evidence that as many as 10% of eligible voters, disproportionately minorities, don’t have the ID required by strict versions of the law, polls show voter ID is generally popular.
Instead, Clinton sought to move the voting rights debate for 2016 toward more advantageous terrain for Democrats and voting rights supporters: expanding access to voting and voter registration, to make it easier to cast a ballot and bring more Americans into the process.
Noting that between one quarter and one third of all Americans aren’t registered to vote, Clinton called for an across-the-board modernization of the registration process. The centerpiece: universal automatic voter registration, in which every citizen is automatically registered when they turn 18 unless they affirmatively choose not to be, effectively changing the system’s default status from non-registered to registered. Oregon passed such a law earlier this year, and several other states, including California, are considering the idea.
“I think this would have a profound impact on our elections and our democracy,” Clinton said.
Clinton also said registration should be updated automatically when a voter moves, and called for making voter rolls more accurate secure. And she said Republican efforts to restrict voter registration, seen in Texas, Florida, and other states, disproportionately affect marginalized communities, and students.
Around 50 million eligible voters aren’t registered, according to a recent study by the Center for Popular Democracy, based on Census Bureau data. That’s three times as many as the number who are registered but stay home.
Clinton said the nationwide early voting standard of at least 20 days should also include evening and weekend voting, to accommodate those with work or family commitments.
“If families coming out of church on Sunday are inspired to go vote, they should be free to do just that,” Clinton said, in a reference to the Souls to the Polls drives that are popular in Africa-American communities, in which people vote en masse after church.
Wisconsin, Ohio, and North Carolina — all Republican-controlled states — have cut their early voting periods in recent years, with the latter two states also eliminating same-day voter registration. And a third of all states offer no early voting at all. Democratic efforts to create or expand early voting have been killed, or allowed to languish in committee, by Republicans in at least 15 states, eight of them in the south, according to a tally compiled by the Democratic Legislative Campaign Committee.
In addition, Clinton called for Congress to fully implement the recommendations of a bipartisan presidential panel on voting released last year, which included online voter registration and establishing the principle that voters shouldn’t wait more than 30 minutes. And she suggested that laws barring ex-felons from voting should be liberalized, adding her voice to a growing push against felon disenfranchisement laws.
And Clinton lamented the Supreme Court’s weakening of the Voting Rights Act.
“We need a Supreme Court that cares more about protecting the right to vote of a person to vote than the right of a corporation to buy an election,” she said.
Asked by msnbc on a call with reporters whether it was realistic to propose legislation, given the record of the Republican-controlled Congress, a senior official with the Clinton campaign pointed to ”encouraging signs” in the states, arguing that such changes could be implemented at the state level with federal support.
On voter ID, Clinton’s criticism of Texas’s law was centered on a provision that allows concealed gun permits but not student IDs, suggesting partisan bias. She didn’t offer the kind of broader condemnation of ID laws per se often voiced by voting and civil rights groups. And in criticizing Wisconsin and North Carolina’s slew of voting restrictions, she focused on cuts to early voting rather than those states’ ID laws.
Hours before Clinton spoke, a de facto arm of her campaign that provides pro-Clinton information to the media sent out an email documenting the GOP 2016 hopefuls’ records of supporting restrictive voting policies, which it contrasted with Clinton’s expansive approach.
Clinton’s speech comes less than a week after her campaign’s top lawyer, Marc Elias, filed suit to challenge Wisconsin’s voting restrictions. Last month, Elias filed a similar lawsuit challenging Ohio’s early voting cuts.
Ohio Secretary of State Jon Husted called the lawsuit “frivolous” in a statement to msnbc and said Elias is wasting Ohioans’ tax dollars. “Hillary Clinton is calling for a national standard for early voting that is less than what Ohio currently offers,” Husted said. “Given this fact, I call on her to tell her attorneys to drop her elections lawsuit against Ohio.”
The Clinton campaign has said it’s not officially involved in the lawsuits but supports them.
In choosing to give the speech in Texas, Clinton was going into the belly of the beast. In addition to the ID law, which has been struck down as racially discriminatory and is currently being appealed, Texas also has the strictest voter registration rules in the country. And last week, a voting group alleged that the state is systematically failing to process registration applications, msnbc reported.
Clinton has long had a strong record on voting issues. As a volunteer for the 1972 George McGovern presidential campaign, Clinton worked to register Latino voters in Texas. And in 2005 as a senator, she introduced an expansive voting bill that would have made Election Day a national holiday and set standards for early voting.
At Texas Southern, Clinton received the Barbara Jordan Leadership Award, named for the crusading civil rights leader who was the first southern black woman elected to the U.S. House of Representatives.
Source: MSNBC
Schumer and Pelosi on Opposite Sides of Budget Deal, As the Fate of DREAMers Hangs in the Balance
Schumer and Pelosi on Opposite Sides of Budget Deal, As the Fate of DREAMers Hangs in the Balance
After failing to force a government shutdown before Christmas, advocates from a variety of groups, including United We...
After failing to force a government shutdown before Christmas, advocates from a variety of groups, including United We Dream, The Center for Popular Democracy, and Make The Road, managed to convince Senate Democrats to do so in January.
Read the full article here.
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