New Orleans experience a warning to Texas
Behind Frenemy Lines - May 10, 2014, by Jason Stanford - This is a typical day for Greg Abbott’s gubernatorial bid: He...
Behind Frenemy Lines - May 10, 2014, by Jason Stanford - This is a typical day for Greg Abbott’s gubernatorial bid: He goes into the office, screws up his own campaign and goes home. If it weren’t for his mistakes—Ted Nugent, thanking a supporter who called Wendy Davis “retard Barbie”, calling South Texas a “Third-World Country”, and his bungled opposition to equal pay come to mind—Abbott would seem to have no campaign at all. But it’s when you separate the wheat from the gaffe on education that Abbott’s campaign looks like a disaster waiting to happen.
The negative coverage of Abbott’s education plan—and boy howdy has there been a lot—is focused on Abbott’s mistakes. His education plan cites Charles Murray, whose retrograde views on race and gender got him called a “White Nationalist” by the Southern Poverty Law Center. On page 20, his plan calls for “standardized tests” in pre-K. As a dodge, his campaign spokesmanclaimed that was in the plan “for informational purposes only.” And then he cancels campaign events at public schools when the Davis campaign points out that the schools are suing him over funding cuts.
But behind this façade of denials, backpedaling, and obliviousness sits the luckiest man in American politics, because almost no one has bothered to discuss his idea to create “takeover districts” for low-performing schools. He has reportedly modeled his plan on the privatization reforms in New Orleans.
That last bit should scare you. Education reformers—that is, those who think private charters would do better than public schools at educating poor children—call the Recovery School District in New Orleans a success. If the RSD is a success, I’m the third baseman for the Baltimore Orioles. No matter how much I wish that to be true, the facts say otherwise. Here’s why:
No one argues that schools in New Orleans were turning out Harvard scholars by the boatload, so the legislature created the RSD, a takeover district as Abbott has conceived. Davis also supports recovery districts, but Abbott likes the New Orleans model in which “failing” schools would be run by private charters that promised to get the schools shipshape and back into the public school system within five years.
Before taking a look at the results, we must first figure out what “failure” means, because they keep moving that target. RSD used to takeover any school that failed to get a passing score of 60 on the state performance index. After Katrina, the legislature changed that to allow RSD to scoop up any school that fell short of the state’s 87.4 average. The New Orleans private charter district took over 94 schools, 26 of which met the old passing standard. The state redefined failure to mean below average so more schools could get privatized.
Almost a decade later, the takeover district in New Orleans has failed to turn around even one school, so “improvement” became the new goal. Not one school has received an “A” or even a “B” grade. In fact, RSD stopped disclosing the grades their schools received, preferring to publicize percentages of improvement without disclosing the underlying data or that they were cherry-picking the data every year, making it impossible to honestly chart progress. By their original standards, though, all the RSD schools are still failing.
Remember, Louisiana was throwing millions of tax dollars at what were essentially startup small businesses. Fraud and bankruptcy are commonplace, and if you think that’s confined to New Orleans, think again.
Integrity in Education and the Center for Popular Democracy looked at 15 states that have charter schools, one of which was Texas and found “rampant fraud, waste and abuse,” according to a report released last week. The two groups found numerous cases of embezzlement, misuse of tax dollars, child endangerment, bilking taxpayers for services not rendered, inflated enrollment numbers, and general mismanagement. Private charters are running schools like a business. Unfortunately, that business is Wall Street.
It’s never the schools in the wealthy neighborhoods that get taken over. On average, poor children score worse than their wealthier peers. We have always known that, but we cannot get poor children to achieve in school simply by insisting they act like wealthy children.
Now Abbott is using the false dogma of education reform as cover to give up on public schools. Giving up on public schools will not fix public schools, but if Abbott becomes governor, he’ll go into the office every morning, screw up public schools, and go home.
Don’t say you weren’t warned.
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Another Victory for Workers in Seattle—This Time It’s Their Schedules
Another Victory for Workers in Seattle—This Time It’s Their Schedules
Although she was hired on as a full-time employee at Domino’s Pizza, Crystal Thompson had a schedule that became...
Although she was hired on as a full-time employee at Domino’s Pizza, Crystal Thompson had a schedule that became erratic and unreliable shortly after she began working there in 2009. One day she’d start at 9 a.m. and work until 9 p.m.; and then she’d get a call asking her to work the morning shift the next day.
“It’s so hard trying to plan your life.”
The single mother of three relied on the job to pay over $1,200 a month in rent, utilities, food, and child care, but during the most volatile weeks, she was lucky if she got even 20 hours in shifts. Moreover, it was difficult to find a babysitter or make doctor’s appointments when she sometimes received her schedule only a day in advance. At a loss, Thompson moved one of her children into the living room and found a roommate to shoulder the part of the rent that she couldn’t afford.
“It’s crazy,” Thompson says about her schedule. “It’s so hard trying to plan your life.”
But thanks to an ordinance passed in Seattle last month, Thompson and other workers in the service and retail industries will finally have the freedom to think more than one day ahead. The new law, known as “secure scheduling,” will take effect in July 2017 and will impact large retail, service, and drinking establishments with a minimum of 500 workers globally, as well as full-service restaurants with more than 500 workers and 40 or more locations.
The measure requires that employers post work schedules at least two weeks in advance, offer additional hours to existing workers before hiring new employees, and provide at least a 10-hour break between closing and opening shifts. Thompson says that anything less than that doesn’t leave enough time to rest, shower, care for her children, and be alert enough to work another shift.
The Seattle measure comes on the heels of similar legislation passed in San Francisco in 2014, which labor activists call a game changer for the labor movement. It provides that hourly workers have the ability to better budget their expenses, take on second jobs, and plan for education and family time.
Workers in the service and retail industries will finally have the freedom to think more than one day ahead.
Working Washington, a Seattle-based labor advocacy organization that led the efforts, attests that, much like legislation for a $15 minimum wage that passed in Seattle in 2014, predictable schedules will likely spread to other cities and states too. New York City Mayor Bill de Blasio recently announced that he and other city officials plan on drafting legislation to ensure secure scheduling for fast-food workers.
Thompson’s plight is common for workers in the service and retail industry nationally, as shown in a report co-authored by associate professor Susan Lambert at the University of Chicago’s School of Social Service Administration. About 3 out of 4 early-career adults in hourly jobs report fluctuations in the number of hours they’ve worked in a month, and nearly half of part-time workers said that their employers gave them a week’s notice or less when their schedules changed.
Photo courtesy of Working Washington.
The problem is especially severe among African Americans and Latinos in Seattle. Another study, this one commissioned by the city itself in July, revealed that the two groups were the most likely to receive their schedules with less than a week’s notice, be required to be on-call, or to be sent home during slow shifts. They also reported higher rates of having difficulty attending classes and working second jobs because of their schedules.
Sejal Parikh, executive director of Working Washington, says that erratic scheduling has proliferated in the past two decades with the advent of scheduling software programs. After her group pushed for a $15 minimum wage and won, a campaign for secure scheduling seemed like a natural next step, she says. “The $15 minimum wage is about money, and the secure scheduling campaign is really about power.”
A stable schedule allows workers to spend time with their families, have hobbies, and further their careers.
But the measure is not immune to opposition. The advocacy group Washington Retail Association issued a press release in August stating that the measure undermines the fluctuating nature of business and would lead to layoffs. But Parikh counters that companies are already staffing leanly and that there’s usually not an excess of workers during one shift. A secure schedule simply allows a barista who lives an hour away from work to get eight hours of sleep at home instead of sleeping inside of the coffee shop, she contends.
It’s important that the more than 75 million people who work hourly jobs nationally have some say in their own schedule, says Carrie Gleason, director of the Fair Workweek initiative at the Center for Popular Democracy. A stable schedule allows workers to spend time with their families, have hobbies, and further their careers. Gleason adds that the legislation “ensures that Seattle workers can have a voice” in determining how many hours they work, which is something she hopes catches on in other cities.
In Seattle, Thompson is already planning out the time she’ll enjoy once she has a more predictable schedule. She is now working part time because she’s caring for her 9-month-old baby, but Thompson says she plans on going back to school to get a degree in Spanish and to become an interpreter. The new ordinance will also allow her to figure out child care and to budget for the rent in her new Section 8 housing, which takes 30 percent of her income.
More than anything, Thompson says she’s looking forward “to more peace of mind.”
By Melissa Hellmann
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Activista colombiana de Queens confrontó a Senador Flake en ascensor sobre caso Kavanaugh
Activista colombiana de Queens confrontó a Senador Flake en ascensor sobre caso Kavanaugh
Ana María Archila, un activista colombiana residente en Queens que ha liderado muchas protestas en Nueva York, ganó...
Ana María Archila, un activista colombiana residente en Queens que ha liderado muchas protestas en Nueva York, ganó atención nacional ayer al confrontar al senador Jeff Flake en un elevador del Capitolio.
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These Cities Aren’t Waiting for the Supreme Court to Decide Whether or Not to Gut Unions
These Cities Aren’t Waiting for the Supreme Court to Decide Whether or Not to Gut Unions
In the face of the Janus case, local elected officials across the country are renewing our efforts to help workers...
In the face of the Janus case, local elected officials across the country are renewing our efforts to help workers organize—in traditional ways, and in new ones. Brad Lander is a New York City Council Member from Brooklyn and the chairman of the board of Local Progress, a national association of progressive municipal elected officials. Helen Gym is a Councilmember At Large from Philadelphia and Vice-Chair of Local Progress, a national network of progressive elected officials.
Is 'Audit the Fed' going mainstream?
Auditing the Federal Reserve, a financial reform long pushed by the libertarian right, just got a boost this week from...
Auditing the Federal Reserve, a financial reform long pushed by the libertarian right, just got a boost this week from an unexpected quarter: A respected Dartmouth economist who issued a new proposal to impose transparency and oversight on the nation’s powerful central bank.
Though largely dismissed by mainstream economists, “Audit the Fed” has become an applause line for central banking skeptics like Sen. Rand Paul, who believe the Federal Reserve wields too much power too secretly. In recent years the idea has spread from right-wing politicians to the conservative mainstream, and even critics on the left: A Senate vote on Paul’s “Audit the Fed” legislation in January garnered 53 votes. Sen. Bernie Sanders (I-Vt.) voted for that bill and has pushed for increased transparency at the Fed to the delight of campaign crowds suspicious that the central bank is rigged in favor of Wall Street.
This week, the Fed Up campaign, a 30-month-old group of labor and community organizations pushing for more openness at the Fed, released its own platform for reforming the Fed’s governance structure, including a new idea for an audit—or "annual review"—that could give the idea more mainstream credibility.
The author is Andrew Levin, an economist now at Dartmouth College who has decades of experience at the Fed and a reputation as a thoughtful observer of the institution. While most financial insiders have long dismissed “Audit the Fed” as an unserious political slogan from people unversed in economics, Levin’s proposal has provoked a more serious reckoning with Fed transparency. And increasingly, economists are coming to the same conclusion: More sunlight might do the central bank some good.
“The Fed is overly sensitive about reviewing its policies,” said Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics who has worked at the Fed off-and-on for the past 30 years.
At issue is whether decisions made by the top officials of the Fed should be open to review by the Government Accountability Office (GAO). Technically speaking, the Fed is already audited – it’s subject to the same GAO scrutiny of its operations as any other federal agency. But its most influential decisions, deliberations on monetary policy that attract global attention and can move stock markets dramatically, are conducted in secret by a dozen top Fed officials. Seven of them, known as Fed governors and based in Washington, are nominated by the president and confirmed by the Senate. The remaining five spots are reserved for the presidents of the 12 regional Fed banks on a rotating basis. Collectively known as the Federal Open Market Committee (FOMC), the group generally meets eight times a year, with minutes released three weeks afterwards. Transcripts of those meetings are released on a five-year lag, effectively sealing its deliberations in the short-term.
Because banks ultimately own the regional Fed banks, and have a say in nominating many of their directors, critics say this structure leaves the door open for favoritism to Wall Street, and needs outside scrutiny to ensure it properly balances its dual mandate of stable inflation and full employment. Supporters say the Fed's relative independence is a virtue, and worry its monetary decisions would be worse in the long run if its officials constantly felt Congress breathing down their necks.
The more traditional right-wing “Audit the Fed” legislation would call for a GAO audit of the Fed within 12 months of passage, and thereafter enable any lawmaker or congressional committee to request an audit of the central bank, including the FOMC’s monetary policy decisions, whenever they wanted.
In his new plan, Levin proposes something slightly different: it would require the GAO to conduct a review of all aspects of the Fed, including monetary policy, but make the review annual and determined by GAO staff rather than Congress. “[Paul’s legislation] just seemed like a way to threaten the Fed,” said Levin.
His proposal would also call for seven-year term limits for Fed officials and reform the process that the regional Fed bank presidents are selected. Though he recoiled against terming the GAO review an “audit,” his proposal would give the GAO new powers to examine different aspects of the Fed, as it does with other agencies in the federal government. Instead of called by Congress, it would be annual and determined by agency staff. “From one year to the next, it might focus on some aspects of the Fed's operations. One year, maybe it would focus on monetary policy strategy and communications,” Levin said. “Another year, maybe it wouldn't spend much time on that.” The results would be publicly available.
Narayana Kocherlakota, the former president of the Minneapolis Federal Reserve, expressed support for the idea of regularly scheduled GAO audits of the Fed’s monetary policy. He didn't take a position on earlier audit proposals, but echoed Levin’s concern that allowing lawmakers to request a GAO audit “would be very bad and would lead us down a bad path where essentially Congress was running monetary policy.”
The Federal Reserve declined to comment on Levin’s plan. But Fed Chair Janet Yellen and other Fed officials have aggressively attacked prior proposals to increase oversight over the FOMC’s deliberations. In January, before the Senate voted on Paul’s legislation, Yellen sent a letter to Majority Leader Mitch McConnell and Minority Leader Harry Reid opposing the bill. “These reviews could only serve to create public doubt about the conduct and independence of monetary policy,” she wrote.
“All of that criticism does apply to my proposal,” Levin said after reading those lines from Yellen’s letter. But he argued that such oversight is necessary in a democracy. He added, “After all, the Congress is the Fed’s boss.”
Levin enters this debate with considerable experience. He spent two decades as an economist for the Fed and then was a special adviser to then-Chairman Ben Bernanke and then-Vice Chair Yellen from 2010 to 2012. He also advised many other central banks, including the European Central Bank, the Bank of Canada and the Bank of Japan. Those policy bona fides mean he’s being taken seriously even by people who have dismissed previous “Audit the Fed” proposals.
“Levin knows a lot about the internal workings [of the Fed] that I don’t,” said Jared Bernstein, the former top economist to Vice President Joe Biden and a frequent critic of “Audit the Fed” proposals. “He’s not coming at this from the perspective of some radical protester.”
The underlying question is whether an annual review by GAO—not one triggered by individual lawmakers or committees—will cause the Fed to be influenced by politics in its monetary policy decisions. To some extent, that already happens. The Fed, like every institution, faces criticism from an array of politicians, outside economists, and pundits. “Independence is not as black and white as many people make it seem,” said Kocherlakota.
Finding the right balance between giving the Fed room to make independent policy and holding it accountable is a constant challenge—one that extends beyond “Audit the Fed" proposals. Sanders, for instance, has proposed that FOMC transcripts be released within six months, instead of the current five years.
Few serious Fed watchers, however, have spent much time developing detailed ideas for increased Fed transparency. “I felt like there was a vacuum in the discourse,” Levin explained.
Levin’s reforms are unlikely to become law anytime soon: Lobbying efforts around such a change would be fierce, and groups like the Fed Up campaign are likely to be heavily out-spent by Wall Street banks skeptical of changes intended to reduce their influence over Fed decisions. The Federal Reserve would likely oppose the reforms as well.
By DANNY VINIK
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City to help immigrants seeking deportation reprieves
New York Times - July 17, 2013, by Kirk Semple - New York City plans to spend $18 million over the next two years to...
New York Times - July 17, 2013, by Kirk Semple - New York City plans to spend $18 million over the next two years to help young unauthorized immigrants qualify for a federal program that grants a temporary reprieve from deportation, officials announced on Wednesday.
The money will add 16,000 seats to adult education classes throughout the city, and priority for those slots will be given to immigrants who might qualify for the reprieve.
While more than 20,500 immigrants in New York State have already been granted the reprieve, known as deferred action, city officials have estimated that about 16,000 others in New York City alone would satisfy all the conditions save for the requirement that they have a high school diploma or General Educational Development certificate, or be currently enrolled in school.
The project — the largest investment made by any municipality in the nation to help immigrants obtain the deferral, city officials said — is one of two new immigrant-assistance initiatives that will receive significant injections of public money in the current fiscal year, which began July 1.
The other budget allocation, which the city plans to announce formally on Friday, will pay for a pilot program that will create what immigrants’ advocates say will be the nation’s first public defender system for immigrants facing deportation.
Together, the two programs further cement New York’s reputation as one of the most immigrant-friendly cities in the nation. They also come at a time when a push for comprehensive immigration reform that would include a path to citizenship for unauthorized immigrants has met stiff resistance among Republicans in the House of Representatives.
In a news conference in City Hall on Wednesday, Christine C. Quinn, the City Council speaker, seemed to allude to sclerotic politics on Capitol Hill, saying the Council’s budget decisions send a message to the rest of the nation “that local government can take action while we wait for comprehensive immigration reform.”
The federal deportation reprieve was announced by the Obama administration in June 2012. To qualify, an applicant must have arrived in the United States before reaching his or her 16th birthday and been younger than 31 as of June 15, 2012, among other requirements. Recipients of the reprieve, which is subject to renewal after two years, are legally allowed to work and, in many states, obtain a driver’s license.
More than 400,500 people across the nation have been granted the deferral; for many others, the educational requirement has been a major hurdle.
For years, adult education programs in the city have been swamped by huge demand yet been hamstrung by financial shortfalls.
Of the $18 million allocation, $13.7 million will be provided to community-based organizations through the Youth and Community Development Department and used for outreach and the increase in seats. The remaining $4.3 million will help expand related education programs offered through the City University of New York, like English for Speakers of Other Languages and General Educational Development.
In recent days, immigrants’ advocates have also been celebrating the City Council’s decision to help pay for another initiative: the allocation of $500,000 in its current budget for a network of legal service providers to represent immigrants facing deportation.
Defendants in immigration court, unlike those in criminal court, have no constitutional right to a court-appointed lawyer. Hampered by language barriers, lack of money or ignorance, most end up trying to fight their deportation alone — almost always with poor outcomes.
According to a recent study, 60 percent of detained immigrants in the New York region did not have counsel at the time their cases were completed. Of those without counsel, only 3 percent won their cases, compared with 18 percent of those with counsel.
Proponents of the program, called the New York Immigrant Family Unity Project, said it would cost about $8.7 million to provide legal representation for the 2,800 or so immigrants living in New York State who are detained and face deportation every year. The city allocation, however, will help cover the cost of a pilot program to represent just 135 immigrants. Advocates said that despite its limited reach, the pilot program would give them a chance to test their theories and demonstrate the potential impact of a broader plan.
The program will not only help keep families together, argued Andrew Friedman, executive director of the Center for Popular Democracy, an advocacy group that helped to lobby for the financing, but will also create “an innovative model program” for other municipalities to replicate.
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Regional Feds' head-hunting under scrutiny over insider bias, delays
Efforts to fill top positions at some U.S. Federal Reserve regional branches are casting a spotlight on a decades-old...
Efforts to fill top positions at some U.S. Federal Reserve regional branches are casting a spotlight on a decades-old process that critics say is opaque, favors insiders, and is ripe for reform.
Patrick Harker took the reins as president of the Philadelphia Fed this week, in an appointment that attracted scrutiny because he served on the committee of directors that interviewed other prospective candidates for the job he ultimately took.
The Dallas Fed has been without a permanent president for more than three months as that search process stretches well into its eighth month. And the Fed's Minneapolis branch abruptly announced the departure of its leader, Narayana Kocherlakota, more than a year before he was due to go, with no replacement named to date.
The delays and reliance on Fed employees in picking regional Fed presidents can only embolden Republican Senator Richard Shelby to push harder for a makeover of the central bank's structure, which has changed little in its 101 years.
A bill passed in May by the Senate Banking Committee that Shelby chairs would strip the New York Fed's board of its power to appoint its presidents. And it could go further, given the bill would form a committee to consider a wholesale overhaul of the Fed's structure of 12 districts, which has not changed through the decades of shifting U.S. populations and an evolving economy.
The bill is part of a broader conservative effort to expose the central bank to more oversight, and some analysts saw the Philadelphia Fed's choice as reinforcing the view that the Fed needs to open up more to outsiders.
Nine of 11 current regional presidents came from within the Fed, a proportion that has edged up over time. Twenty years ago, seven of 12 were insiders.
"The process seems to create a diverse set of candidates in which the insider is almost always accepted," said Aaron Klein, director of a financial regulatory reform effort at the Bipartisan Policy Center.
Since it was created in 1913, the central bank's decentralized structure was meant to check the power of Washington, where seven Fed governors with permanent votes on policy are appointed by the White House and approved by the Senate.
The 12 Fed presidents who are picked by their regional boards usually vote on policy every two or three years, and they tend to hold more diverse views.
Former Richmond Fed President Alfred Broaddus told Reuters the regional Fed chiefs have more freedom "to do and say things that may not be politically popular" because they are not politically appointed. "On the other hand, there is the question of legitimacy since they are appointed by local boards who are not elected."
"TONE DEAF"
Two-thirds of regional Fed directors are selected by local bankers, while the rest are appointed by the Fed's Board of Governors in Washington.
Critics question how well those regional boards - mostly made of the heads of corporations and industry groups meant to represent the public - fulfill their mission.
Last year, a non-profit group representing labor unions and community leaders organized by the Center for Popular Democracy, urged the Fed's Philadelphia and Dallas branches to make the selection of their presidents more transparent and to include a member of the public in the effort.
Philadelphia's Fed in particular proved "tone deaf" in its head-hunting effort, said Lou Crandall, chief economist at Wrightson ICAP in Jersey City, New Jersey.
Harker was a Philadelphia Fed director when the board started looking to replace president Charles Plosser, who left on March 1, and he was among the six directors who interviewed more than a dozen short-listed candidates for the job, according to the Philadelphia Fed.
But on Feb. 18, Harker floated his own name, recused himself from the process and a week later his colleagues on the board unanimously appointed him as the new president.
While the selection follows Fed guidelines and was approved by its Board of Governors, it raised questions of transparency and fairness.
"The Philadelphia Fed's search process might have made perfect sense in a corporate environment, but is obviously problematic for an official institution," said Crandall.
The board's chair and vice chair, Swathmore Group founder James Nevels and Michael Angelakis of Comcast Corp, respectively, declined to comment, as did Harker.
Peter Conti-Brown, an academic fellow at Stanford Law School's Rock Center for Corporate Governance, and an expert witness at a Senate Banking Committee hearing this year, proposed to let the Fed Board appoint and fire regional Fed presidents or at least have a say in the selection process.
In the past, reform proposals for the 12 regional Fed banks have focused on decreasing or increasing their number and their governance.
Changes to the way the regional Fed bosses are chosen could strengthen the influence of lawmakers at the expense of regional interests.
For now, delays in appointments of new chiefs force regional banks to send relatively unknown deputies to debate monetary policy at meetings in Washington, as Dallas and Philadelphia did last month when the Fed considered raising interest rates for the first time in nearly a decade.
The Minneapolis Fed still has time to find a new president before Kocherlakota steps down at year end.
"For now the Fed criticism is just noise, mostly from Republicans," said Greg Valliere, chief political strategist at Potomac Research Group. "But once the Fed begins to raise interest rates ... then the left will weigh in as well."
(Additional reporting Ann Saphir in San Francisco; Editing by Tomasz Janowski)
Source: Reuters
Fed Up Says It Unjustly Lost Rooms at Jackson Hole Meeting
A coalition of community and labor groups known as “Fed Up” said 39 members planning to stay at the hotel hosting the...
A coalition of community and labor groups known as “Fed Up” said 39 members planning to stay at the hotel hosting the Federal Reserve’s prestigious annual retreat in Jackson Hole, Wyoming, were unfairly singled out when their 13 room reservations were canceled.
The group, which is pressing the U.S. central bank to appoint more minorities and women to its leadership, said most of its attendees would have been black and Latino. It has filed a complaint with the U.S. Department of Justice and other government officials. The group believes it lost the rooms because of “specific targeting of the Fed Up coalition.”
Fed Chair Janet Yellen is the first woman to lead the U.S. central bank and it remains under pressure to become more diverse. Democratic presidential nominee Hillary Clinton joined calls for reform in May and the central bank has taken fire from Republicans, who warn its low interest rate policies risk inflating another asset bubble.
The Fed Up coalition, which wants rates to stay low to boost hiring and lift wages, has discussed its concerns with Fed officials, including Esther George, president of the Kansas City Fed, which hosts the annual Jackson Hole monetary-policy conference in late August.
Faced with criticism that it doesn’t look out for the interests of poorer Americans, the Fed has been making efforts to change. The Kansas City Fed said on Thursday that it will hold a conference on the challenges low- to moderate-income communities face on Sept. 7-8 at its headquarters.
Booking Error
Alex Klein, vice president and general manager of Grand Teton Lodge Company and Flagg Ranch, said the reservations were canceled because “an error in the booking system” resulted in the Jackson Lake Lodge being oversold by 18 rooms. “We worked proactively and diligently with guests to relocate them to our nearby Flagg Ranch property,” he said in a statement.
The Kansas City Fed has a contract to provide rooms for guests at the symposium and “has no input regarding any decisions that the Lodge makes outside of its contract with us,” said bank spokesman Bill Medley.
The symposium, which gathers policy makers and economic-thought leaders for a three-day retreat in the heart of the Grand Teton mountains, is probably the most important event of its kind on the central-banking calendar. Yellen will attend and plans to address the conference on Aug. 26. This year’s meeting, which is invitation only, is focused on the topic “Designing Resilient Monetary Policy Frameworks for the Future.”
The hotel, while remote, is open to the public and Fed Up representatives have made the trip for the past two years. In 2015, Fed Up held an alternative conference at the Lodge which was addressed by Nobel-prize winning economist Joseph Stiglitz.
By Steve Matthews & Jeanna Smialek
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How "Abolish ICE" Went From A Twitter Slogan To A Litmus Test
How "Abolish ICE" Went From A Twitter Slogan To A Litmus Test
That sentiment — that he has helped popularize a longtime activist goal — is echoed by other activists as well as...
That sentiment — that he has helped popularize a longtime activist goal — is echoed by other activists as well as McElwee himself. “There is a segment of the immigration rights community," said Ana Maria Archila, co–executive director of Center for Popular Democracy, "that has looked at the laws of immigration and the enforcement of those laws as a core component of the criminalization apparatus in this country that is designed to keep black and brown communities subjugated. Sean did a lot of work to explain the history of the agency and insert this into the mainstream political discourse.”
Read the full article here.
Texas Matters: Unemployment Still A Problem For Texas Minority Communities
Texas Public Radio - March 6, 2015, by David Martin Davies - The U.S. Labor Department reports that the latest national...
Texas Public Radio - March 6, 2015, by David Martin Davies - The U.S. Labor Department reports that the latest national unemployment rate is 5-point-5 percent. That’s good news for the economy overall and the sluggish recovery. But if you are still one of those without a job then the unemployment rate is 100%. But for minority communities the recovery has yet to arrive. A coalition of community and labor groups in Texas is calling for the Federal Reserve to focus on full employment and higher wages for blacks, Latinos, native peoples and others in poor neighborhoods who have been left out of the recovery. Connie Razza is the Director of Strategic Research at the Center for Popular Democracy.
Listen to the clip here.
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