CPD IN THE NEWS

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

Source

As the new year begins, any honest progressive knows the political outlook is bleak. But if we're going to limit the damage that President-elect Donald Trump inflicts on the country, then despair is not an option. The real question, as Democracy Alliance President Gara LaMarche recently said, "is how you fight intelligently and strategically when every house is burning down."

Indeed, with Trump and Republicans in Congress aggressively pushing a right-wing agenda, progressives will need to invest their resources and attention where they can do the most good — both now and over the next four years. With that in mind, here are three steps to take to resist and rebuild as the Trump administration gets underway.

First, while strong national leadership is certainly important, progressives must recognize that the most significant resistance to Trump won't take place in Washington. It's going to happen in the streets led by grass-roots activists, and in communities, city halls and statehouses nationwide.

There is real potential for cities and states to act as a bulwark against Trump's agenda. On immigration, for example, a coalition of mayors from across the country — including New York and Los Angeles but also cities throughout the Rust Belt and the South — are already coordinating to fight Trump's deportation plans. Local Progress, a national network of city and county officials, is working to protect civil rights and advance economic and social justice. And while the Trump administration may ravage the environment, cities and states can also continue the fight against global warming; in particular, California has the potential to become a global leader on the issue, and Democratic Gov. Jerry Brown has defiantly pledged to move forward with plans to slash carbon emissions in the state regardless of Trump's policies.

Cities and states also give progressives an opportunity to play offense by advancing policies that truly improve people's lives, while providing a concrete and actionable blueprint for the rest of the country. Take the Fight for $15. Last year, 25 states, cities and counties approved minimum-wage increases that will result in raises for millions of workers nationwide. And despite Trump's hostility to workers, there are campaigns to increase the minimum wage planned in at least 13 states and other localities over the next two years, representing a real chance to build on that progress.

Second, as New York Attorney General Eric Schneiderman writes, "We need a broad commitment from activists and donors to take back state governments." Even if Democrats do well in the midterm elections, they are unlikely to regain control of Congress until after the next round of redistricting, in 2020. Yet there will be 87 state legislative chambers and 36 gubernatorial seats up for grabs in 2018. Progressives would be wise to adopt a laserlike focus on winning these races.

A strong performance at the state level in 2018 would do more than improve progressives' ability to combat Trump's policies. It would also help create a stronger pipeline of leaders who could eventually run for higher office, following in the steps of incoming House members Jamie B. Raskin, D-Md., and Pramila Jayapal, D-Wash. Crucially, it would also give progressive Democrats more influence over congressional redistricting in 2020, boosting the party's prospects at the national level. For that reason, it's noteworthy that President Obama is planning to get involved in state legislative elections and redistricting after he leaves office, though grass-roots efforts will remain paramount.

And third, it will be critical for progressive leaders in Washington to amplify local progress to drive a national message. In the absence of a single party leader — especially one whose success depends on compromising with congressional Republicans — there is more room for strong, populist progressive voices to emerge in opposition to Trump.

Already, Sens. Bernie Sanders, Vt., Elizabeth Warren, Mass., Sherrod Brown, Ohio, and Jeff Merkley, Ore., are stepping up, and they will be joined in the House by the Congressional Progressive Caucus, whose members will play a key role in recruiting and running progressive candidates, connecting with grass-roots movements and driving local issues into the national sphere. Working alongside activist groups, progressive Democrats can present a clear alternative vision for the nation.

To that end, the race for Democratic National Committee chair presents a significant opportunity to shift the party's direction. Regardless of who prevails, progressives would be wise to insist on a return to the 50-state strategy that former chairman Howard Dean championed and that all of the current candidates say they support. Ultimately, the party's fortunes will depend on recruiting a new generation of progressive leaders, especially women and people of color, who can harness the power of social movements and drive it into electoral politics — everywhere in the country, at every level of government.

By: Katrina Vanden Heuvel

Source

“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.”

Read the full article here.

“I work with the Opioid Network, which is a subset of Center for Popular Democracy. I’m going to be in DC on April 18, doing an action at the Smithsonian, where we put down medicine bottles from a bunch of different people to show, this is where this new opioid crisis has spawned from. I also work with an organization called the Delaware Alliance for Community Advancement, along with Metropolitan Women’s Urban League. I also work with Achievement Matters, where I’m a facilitator for a fellowship program to close the achievement gap and foster new leadership in communities of color.”

Read the full article here.