Top Federal Reserve pick is controversial for Wells Fargo oversight and lack of diversity
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Top Federal Reserve pick is controversial for Wells Fargo oversight and lack of diversity
Shawn Sebastian, field director of Fed Up, a campaign by labor, community and liberal activist groups that wants the...
Shawn Sebastian, field director of Fed Up, a campaign by labor, community and liberal activist groups that wants the Fed to enact pro-worker policies, said the choice of Williams damaged the Fed’s legitimacy and credibility.“Today, the Federal Reserve concluded another opaque and controversial Reserve Bank presidential selection process by ignoring the demands of the public and choosing yet another white man whose record on Wall Street regulation and full employment raises serious questions,” he said.
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Florence District One Candidate Questionnaire: Alexis D. Pipkins, Sr.
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Florence District One Candidate Questionnaire: Alexis D. Pipkins, Sr.
The Morning News recently sent out a questionnaire to the candidates running for the Florence School District One Board...
The Morning News recently sent out a questionnaire to the candidates running for the Florence School District One Board of Trustees. Here are the answers from Alexis D. Pipkins, Sr. who is running for another term representing District 4; he faces one challenger.
1. What do you feel you have contributed during your current tenure on the board?
My background as a lifelong resident of the Florence Community, and working closely within the region has given me a clear sense of both the educational and economic issues and needs that we face. Over the past 15 years, as a member of the Florence School District 1 Board of Trustees, I have ensured that I have been knowledgeable of the issues, needs, and concerns of my constituents, and I have represented and I have been a voice even during turbulent of challenges. Further, I understand that leadership must be politically astute to represent the views and concerns of those you represent even though others may not agree, or do not care, and only want to advance their own agenda that is only best for “their community” and not all communities. I have attained the Level 6 on the SCSBA, which is the highest level for a school board member, and presently I serve as the President of the SC Caucus of Black School Board Members which provides dialogue on educational issues and concerns to address the full growth and development of Black and other minority children, and I am also affiliated with the National Local Progress Movement which focuses on progressive thought and insight for local officials
2. What are the issues that you think need to be addressed?
Student achievement, and recognizing the individuality and creativity of each student’s needs
Recognizing that the public schools are becoming more diverse
Equity in funding for all schools
Special Education
Technology infusion and integration for all students
Early Childhood
Career Clusters and Pathways- which is more opportunities for expansion of vocational and career center programs
Funding throughout the district
Special Education and meeting the diverse needs of students, to include the increase diagnosis of Autism
Impact of poverty, mental health, and other risk factors have on today’s learners
Lack of teachers
New and innovative approaches to teacher development and recruitment in order to develop and retain a diverse, qualified, and effective 21st Century pool of educators and staff
3. How have you sought to make changes in those areas?
By asking for items to be placed on the agenda, and engaging staff and others throughout the state and country on best practices and promising practices to ensure that we are utilizing the best program for all of our children. Also, researching the issues and knowing the national agenda. I have always committed myself to being engaged and welcoming to constituents and having a listening ear to see what the children are saying and feeling. As an educator and advocate for children and families, I always empathize and evaluate how I would feel when making decisions and question if policies or procedures that are guiding discussion or the direction of the Board are relevant today. I have demonstrated that my approach to knowing what the educational needs and issues are not based on perception or a one way train rail.
4. What specific program are you most proud of in FSD1 and why?
Small Learning Communities at our schools to decrease class sizes
Implementation of the Parents As Teachers Program to address 0-3, to provide parents with skills and supports to ensure that their children are ready to enter school
Montessori which provides learners the opportunity to be creative
Career and Technology which provides students the opportunity to enter the work place upon graduation
The work that was done by the previous Discipline Code Committees which has ensured the district recognized inequalities and unfair discipline practices and the underutilization and non-utilization of support services for students with complex needs and behaviors. This dialogue that I led was the foundation for the present Code of Conduct which will have to be assessed over the next few years to evaluate its effectiveness and impact on student learning and behavior.
Early College which provides students the opportunity to receive college credit and even an Associate Degree when they graduate from high school
Present dialogue on a Middle School Concept that has been talked about for years
5. How do you handle inquiries and complaints from the community?
I refer families to the Superintendent’s Office or to the appropriate office for support. I also follow-up with families and community that approach me to ensure that their complaints and inquires have been addressed. I also request items be placed on the agenda for discussion and action.
6. What do you think the role of the board is, in the district and in the community?
The board is responsible for establishing the Vision and Mission for the local school district, and ensuring that the Superintendent has the resources to implement the vision by having good policies and procedures, and good stewards of the district’s Operational Funds and Capital or Building Funds. This role must be student centered and family centered by recognizing the diverse needs of students within our community. Not all students learn in the same manner, thus the board must be aware of such and hold the administration accountable for creating programs and services which will help students achieve and be successful. It is the job of the board to be knowledgeable, and current on educational issues and trends, and not just be a “rubber stamping board” but ask questions, communicate with the public- and not just those who share your personal beliefs and positions.
7. What are your past/other areas of service? (church, civic organizations, etc.)
Professional:
I am an advocate, teacher, educator, trainer, and servant-leader. Presently, I am employed as the Executive Director of Lee County First Steps, and the Lee County Adult Education Family Literacy Coordinator.
Educational attainments include:
1990 graduate of the historic Wilson High School
Bachelor of Arts Degree in Political Science and a concentration in Secondary Education Graduate from Winthrop University
Master of Arts Degree in Management from Webster University
Education Specialist Degree Specialization in Leadership in Educational Administration from Capella University
Completion of the Non Profit Leadership Institute from Francis Marion University
Completion of the Francis Marion Rural Leadership Institute
Church:
My faith walk began at my home church, Snow Hill Baptist Church where I was active during my youth, and I was licensed to preach at Maxwell Baptist Church where I was Sunday School Teacher, Sunday School Superintendent, Minister of Christian Education and Membership Services, Boys Scout Troop Master. Presently I am a member and ordained Elder of the Gospel (2010) and serve as an Associate Minister and have served as a Youth Advisor at the Greater Gethsemane Apostolic Church in Florence, South Carolina.
Past and Present Civic:
Gate City Masonic Lodge 276
Florence 1 Local Education Association (SCEA) Treasurer, President
Weed and Seed Steering Committee
Queenie’s Helping Hands Ministry
Angel Tree Prison Ministry
The School Foundation Board
Pee Dee International Festival Planning Committee
PTA (North Vista Elementary, Williams Middle School)
PTSA (Wilson High School)
By Melissa Rollins
Source
Denver Receives $5 Million Challenge Grant To Promote Naturalization In The United States.
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Denver Receives $5 Million Challenge Grant To Promote Naturalization In The United States.
The “America is Home” Initiative will be administered by the National Partnership for New Americans (NPNA). Cities for...
The “America is Home” Initiative will be administered by the National Partnership for New Americans (NPNA). Cities for Citizenship is co-chaired by Mayors Garcetti, Mayor Emanuel, and Mayor de Blasio of New York City. The Center for Popular Democracy is a member of the C4C Executive Committee, and Citi Community Development is the founding Corporate Partner. The C4C “America is Home” Initiative is offered in cooperation with the New Americans Campaign (NAC). NPNA and NAC are two leaders in the U.S. promoting naturalization and are well positioned to bring naturalization to scale and expand to new cities.
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It’s Time to Reimagine Safety and Security in Our Communities
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It’s Time to Reimagine Safety and Security in Our Communities
The over-policing and mass criminalization of Black and brown people is the moral crisis of our time. The United States...
The over-policing and mass criminalization of Black and brown people is the moral crisis of our time.
The United States has the world’s largest incarcerated population with approximately 2.2 million people currently behind prisons and jails (21 percent of the world’s prisoners) while several police departments across the country are under investigation for charges of police brutality, gross misconduct and civil rights violations.
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What you can do right now to improve policing in your city
Newsy spoke with Anand Subramanian, the associate director of PolicyLink. Together with the Center for Popular...
Newsy spoke with Anand Subramanian, the associate director of PolicyLink. Together with the Center for Popular Democracy, PolicyLink published a report with recommendations on how communities can improve the way their local police force operates.
Collect more data:
"Police departments need to collect data that's broken down by race, by gender, etc., on who they're stopping, why they're stopping them, whether they were searched, whether there was consent for the search and whether any contraband was found," Subramanian said. "By collecting and publishing that data, communities can really assess whether there are racial disparities or not."
Ban biased policing:
"Every police department should have a policy prohibiting racial profiling and prohibiting biased policing. It allows departments to hold officers accountable if they've been found to engage in biased policing."
Get independent oversight:
"A lot of communities are advocating for policies that institute an independent body that has oversight over the department's policies — an audit function to make sure that the department is complying with its policies, that the policies are up to par and that the department is actually holding its officers accountable for misconduct."
Decriminalize low-level offenses:
"Another area that community advocates may want to look at is decriminalizing certain laws in their community. A lot of times, specific laws tend to be applied in a biased way. One good example of that are so-called status laws like loitering or spitting. But what you find in those communities, if those laws are ever applied, they're only applied in communities of color or vastly disproportionately in communities of color."
Don't fine people for being poor:
"Communities should really take a look at whether there are laws on the books that make it illegal for someone to not pay a fine. So we saw this in Ferguson where the DOJ went to investigate, and what they found was that the city government was really run on the backs of poor people. You may not even know that people are sitting in jail for being too poor to pay a traffic fine, for instance. And so we really urge communities to identify those laws and really advocate for their communities to change those laws."
Enforce the Fourth Amendment:
"A lot of times, police officers will ask someone they stopped whether they consent to a search. What we're finding is that a lot of times what is seen as consent may not actually be true consent. It may be that they don't want to give consent, but they feel scared or frightened, so they give consent under duress. In any case where someone being stopped by a police officer has a right, that right should be expressly shared by the police officer."
Editor's note: Anand Subramanian's interview has been condensed for length
By KATE GRUMKE
Source
The financial reality facing America's 16 million retail workers
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The financial reality facing America's 16 million retail workers
Shaheim Wright's house is falling apart. It's infested with bedbugs. The washing machine is broken. He needs a new sink...
Shaheim Wright's house is falling apart. It's infested with bedbugs. The washing machine is broken. He needs a new sink. Oh, and there's the crack in the bathtub.
"It's leaking out, and right near my door is a wet spot from water coming down," Wright said. "And it's like, well I can't pay for any of this."
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The Federal Reserve's moral imperative
The Federal Reserve is usually understood as the bankers' bank. But what if it was the people's bank? At the Fed's...
The Federal Reserve is usually understood as the bankers' bank. But what if it was the people's bank?
At the Fed's annual Jackson Hole conference last week, an assortment of community organizers, activists, labor organizations, and economists showed up to push America's most important financial institution towards putting the concerns of working and nonwhite Americans at the center of monetary policy. The group, called Fed Up, has met with Federal Reserve officials before, but Thursday's meeting was nonetheless unprecedented and striking — both for being on the record, and for the detailed, impassioned, occasionally heated, and remarkably pointed conversation that resulted.
Fed Up's complaints are several. The Fed is too worried about inflation, the activists say, and not worried enough about pushing the boundaries of maximum employment when it sets interest rates. They also argue the population of Fed officials is not diverse enough along racial, gender or class lines, and that the Fed itself could do with some institutional reform.
To a large extent, Fed officials agreed: "I'd be surprised if anyone in the Federal Reserve thinks we've done well on [diversity]," said New York Fed President William Dudley. "We're going to run this economy hot. Get unemployment down lower," added San Francisco Fed President John Williams. "So I don't think we disagree about that basic view."
And in Fed official's defense, some of this balancing is a judgment call. The Fed's inflation target is 2 percent, but since that is neither a ceiling nor a floor, officials must decide how far to overshoot that target and for how long in the name of spurring job growth. There is also generally a lag time between a change in interest rates and when it's felt in the economy. So Fed officials have to make educated guesses about when to drop rates to firm up a stumbling economy or raise them to get ahead of inflation.
Finally, Fed officials themselves can disagree over the full extent of their powers. That point was illustrated in Thursday's meeting when Boston Fed President Eric Rosengren and Fed Vice Chair Stanley Fischer disagreed over just what tools the Fed has to deal with asset bubbles. (Rosengren argued there were lots of tools while Fischer insisted there were few.)
The first complication here is that, even from a technical perspective, it's hard to see why the Fed is even contemplating another interest rate hike in December. Rod Adams, a neighborhood organizer from Minneapolis, noted in a particularly impassioned moment that there's essentially no indication that inflation is on the rise. Fed officials' own projections show inflation will just barely touch 2 percent through 2018. Josh Bivens, an economist at the Economic Policy Institute who joined Fed Up at Jackson Hole, argued that fully healing the damage from the Great Recession will require a prolonged period of overshooting the Fed's inflation target.
And in truth, none of the Fed officials at the meeting really debated any of these points. What did come up was the threat of asset bubbles and financial instability. "One of the ways that you get maximum employment is that you don't allow excesses to build up to the point that you actually have another recession, which hurts everybody in the room," Rosengren said.
This is where the unspoken moral problem of Fed policy really becomes inescapable. In very broad terms, the effects of lower interest rates and higher inflation tend to fall harder on the more fortunate members of society: retirees with savings portfolios, people with financial assets, those who work in the financial industry, and so on. Meanwhile, the effects of raising interest rates and slowing down jobs and wage growth tend to fall hardest on the least fortunate: Racial minorities, people with only a high school education, or people with prior criminal records.
At any given moment, unemployment for African-Americans is roughly double the national unemployment rate. But that gap tends to close during boom times and widen during downturns. "The economy has recovered for much of white America, but for black and Latino workers it has not," said Adams. "If you decide that we're at maximum employment now and you intentionally slow down the economy, you'll be leaving us behind, pulling up the ladder right after you've climbed it."
The brutal truth is that when the Fed slows down the economy by raising rates, it is throwing people out of work. And the people most likely to be thrown out of work first are those forced to the fringes of the labor market already by discrimination and other circumstances. So raising interest rates to fight financial instability essentially means black, Latino, and other underprivileged workers are the first to be thrown on the sacrificial alter to save us all from Wall Street's irrational exuberance.
This is partly why Fed Up is pushing for more racial and gender diversity among Fed officials, and to remove the financial industry from its privileged position among those officials. The idea is that the voices of those people the Fed will help or harm should all be equally heard in its deliberations. Fed officials may agree on running the economy hot for a while, but the lack of those voices may be hiding just how hot we need to run it.
There are practical policy changes the Fed could make as well. Bivens has released work on alternative tools the Fed could develop to pop bubbles without causing all that collateral damage: Higher capital requirements for banks, more use of its research powers and public relations to alert the markets to bubbles, and other ideas that already lie in the scope of the Fed's powers. Rosengren said the Fed should use all tools at its disposal to fight financial instability. But if Fed officials are looking for practical ways to build Fed Up's concerns more fully into its ways of doing business, it could start by developing those tools and explicitly rejecting interest rate hikes as a way to combat bubbles.
Another would be to adopt a higher inflation rate target like 3 percent or even 4 percent. If the effects of maximum employment take longer to reach marginalized communities, then the 2 percent target is driving the Fed to cut off job growth before those communities can ever heal.
It should be noted, as Fed Up activists did, that within the scope of its tools, the Fed has actually done a far better job maximizing jobs for marginalized Americans than Congress or the state governments. To some extent, the Fed is catching heat because these it's actually willing to listen to reason.
But it's long been said that societies are judged by how they treat their weakest and most vulnerable citizens — that the powerless have a uniquely powerful claim on our responsibilities. And Thursday reminded us that truism applies to the Fed too.
By Jeff Spross
Source
Nine Months After Hurricane Maria, Congress Isn't Doing Much to Help
If a commission discovered “any wrongdoing, any corruption, any malice in that corruption,” added Julio Lopez Varona of...
If a commission discovered “any wrongdoing, any corruption, any malice in that corruption,” added Julio Lopez Varona of the Center for Popular Democracy’s Puerto Rico programs, “then people should go to jail.” In his view that includes not just federal officials but local Puerto Rican officials, some of whom have come under fire for mismanaging the disaster and recovery. But Mark-Viverito notes that it is far too early to think about how to enact punishments on individuals.
Scarlett Johansson, Her "Avengers" Co-Stars And The John Gore Organization Raise $500,000 For Puerto Rico Hurricane Relief Efforts
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Scarlett Johansson, Her "Avengers" Co-Stars And The John Gore Organization Raise $500,000 For Puerto Rico Hurricane Relief Efforts
"We are deeply grateful to Scarlett Johansson, Kenny Leon and everyone involved in the production of this play for...
"We are deeply grateful to Scarlett Johansson, Kenny Leon and everyone involved in the production of this play for stepping up and contributing their talent to help towards the equitable and just rebuilding of Puerto Rico," explained Xiomara Caro, Director of New Organizing Projects for the Center of Popular Democracy and coordinator of Maria Fund. "This event demonstrates the importance of collective solidarity and responsibility and how powerful it is when we come together to help our communities."
Read the full article here.
One of Facebook’s founders is taking on the Federal Reserve
Dustin Moskovitz and his wife, Cari Tuna, have become billionaires since he started the behemoth social networking site...
Dustin Moskovitz and his wife, Cari Tuna, have become billionaires since he started the behemoth social networking site with his former Harvard University roommate Mark Zuckerberg. (Moskovitz left the company in 2008 to found Asana, which streamlines task management). The couple is bringing Silicon Valley-style analytics to the world of philanthropy through their fund, Good Ventures.
The goal is to find and incubate projects with the potential to create the most change for every dollar of funding. Many of the fund’s initiatives tread traditional charitable ground. Good Ventures has backed research on the connection between crime, cannabis and incarceration and helped stop the spread of drug-resistant malarial parasites in Myanmar.
But the group is also broadening its reach into public policy issues, including macroeconomics. It has granted $850,000 to the Center for Popular Democracy over the past year to fund a campaign urging the Fed not to raise its target interest rate until the economy is much stronger. Good Ventures is the single largest backer of the campaign -- dubbed Fed Up -- whose budget this year is about $1 million.
“The central reason we believe that marginally more dovish Fed policy relative to the current baseline would carry net benefits is that, at roughly their current rates, we see unemployment as more costly in humanitarian terms than inflation,” Good Ventures wrote explaining its decision to fund the project. “Dovish” policy generally supports lower interest rates, while a “hawkish” stance would raise them.
The funding has helped the group expand its presence at an annual symposium of economic elite that kicked off Thursday here in the foothills of the Grand Tetons and sponsored by the Federal Reserve Bank of Kansas City. The group arrived at the conference last year with a handful of workersholding up signs and wearing green T-shirts.
This year, Fed Up held “teach-ins” in a meeting room at the same hotel as the Fed’s conference and drew prominent economists such as Nobel Prize winner Joseph Stiglitz, University of California-Berkeley professor Brad DeLong and Center for Economic and Policy Research Co-Director Dean Baker.
The campaign also flew in dozens of workers to underscore the disparity in the nation’s economic recovery. Wage growth has remained stagnant for years, and unemployment among black and Hispanic workers is significantly higher than that of whites.
“An economy that doesn’t deliver for most of its citizens is a failed economy,” Stiglitz said in a press conference in Jackson Hole.
Monetary policy has not traditionally been subject to populist activism, and Good Ventures acknowledges that the success of the campaign is uncertain at best. Fed Up is also working to increase public input in the selection of regional Fed presidents, an effort that Good Ventures rates as more unequivocably positive and, at the very least, easier to measure.
But, the funders note, if the campaign works -- and if easy money is indeed the way to go -- the payoff could be massive:
Our best guess is that the campaign is unlikely to have an impact on the Fed's monetary policy, but that if it does, the benefits from a tighter labor market would be very large; we think this small chance of a large positive impact is sufficient to justify the grant.
However, this is an unusually complex policy area, and we could be mistaken.
Source: Washington Post
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