Fed’s Mester Calls Case for Gradual Rate Increases ‘Compelling’
Fed’s Mester Calls Case for Gradual Rate Increases ‘Compelling’
Federal Reserve Bank of Cleveland President Loretta Mester said there’s a “compelling” case for gradually raising...
Federal Reserve Bank of Cleveland President Loretta Mester said there’s a “compelling” case for gradually raising interest rates, with the U.S. economy approaching the central bank’s targets on employment and inflation.
“Policy has to be forward-looking,” Mester told reporters Thursday following a speech in Lexington, Kentucky. “If you have a forecast and inflation is moving up to your target and you’re at full employment, then it seems like a gradual increase from a very low interest rate is pretty compelling to me. Pre-emptiveness is important.”
She declined to say precisely when she believed rate increases would be necessary.
The policy-making Federal Open Market Committee will meet Sept. 20-21 to decide whether to lift the target range for its benchmark rate. Fed Chair Janet Yellen said last week the case for an increase had “strengthened in recent months.”
Investors see a roughly one-in-four probability that the Fed will act later this month, based on pricing in federal futures funds contracts.
Too Low for Too Long
Mester, who votes this year on the FOMC, said the Fed must take seriously the risk to financial stability caused by keeping rates low for too long, although she said she didn’t think the central bank was currently “behind the curve.” Nor did she see signs of financial instability already in the economy.
In her speech, Mester rejected the argument made to a number of Fed officials last week by a coalition of community activists that continued low interest rates are needed to extend the benefits of economic recovery to disadvantaged minorities.
“I do not believe that at this point in the business cycle, the current very low level of interest rates is an effective solution to these longer-run issues,” she said.
Eleven Fed governors and regional presidents, including Vice Chairman Stanley Fischer, met with organizers from the Center for Popular Democracy’s “Fed Up” campaign on the sidelines of the annual policy retreat in Jackson Hole, Wyoming, hosted by the Kansas City Fed.
The U.S. central bank has kept rates on hold through five meetings this year following a rate hike in December that was the first in nearly a decade.
By Christopher Condon
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‘Shut This Office Down’: 128 Arrested As Anti-Kavanaugh Protesters Visit Republican Senators
‘Shut This Office Down’: 128 Arrested As Anti-Kavanaugh Protesters Visit Republican Senators
The Women’s March and the Center for Popular Democracy spearheaded a mass arrest action to kick off a week of protests...
The Women’s March and the Center for Popular Democracy spearheaded a mass arrest action to kick off a week of protests in support of Dr. Ford, whose allegations against the Supreme Court nominee have sparked turmoil.
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A Call to Action From NMAC & Housing Works
A Call to Action From NMAC & Housing Works
People in the movement might be surprised by a joint letter from Charles King of Housing Works and me, but these are...
People in the movement might be surprised by a joint letter from Charles King of Housing Works and me, but these are not ordinary times. NMAC is writing this letter to invite constituents at this year’s United States Conference on AIDS to join Housing Works efforts on Wednesday, September 6, to greet Congress on its return from summer recess with a rally for the care we need to survive—sign up here!
These are confusing times with no clear roadmap. Since NMAC is hosting the HIV/STD Action Dayon the same day, we want everyone to be aware of our mutual support and collective goal to not just save the Affordable Care Act, but to also strengthen our vision of ending AIDS as an epidemic. This can only happen when affordable health care becomes a human right for everyone.
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Ciudanía en Nueva York – Importancia de las Cooperativas de Trabajo
Comunidad Y Trabajadores Unidos - July 15, 2014 - El debate sobre los derechos de migrantes parece estar tan polarizado...
Comunidad Y Trabajadores Unidos - July 15, 2014 - El debate sobre los derechos de migrantes parece estar tan polarizado y por eso no vimos mucho progreso en la reforma migratoria ni en asegurar los derechos de los trabajadores. En Nueva York podemos ver cambios que muestran algunas oportunidades para los migrantes a nivel estatal. En este programa vamos a enfocarnos en dos de los cambios: la legislación que ofrece ciudadanía en Nueva York y el avance de cooperativas de trabajo para trabajadores.
Ciudanía en Nueva York
Hasta ahora el debate sobre la reforma migratoria solo pasó a nivel federal pero la legislación que se desarrolló recientemente, trajo el debate a nivel estatal. La legislación que se desarrolló ofrece ciudanía para en Nueva York para los migrantes y Andrew Friedman habla sobre el significado de esta ley. Andrew Friedman es el co-director del centro de democracia popular y es parte del movimiento que empuja para esta legislación. Friedman habla sobre por qué Nueva York debería desarrollar una legislación que ayude a los migrantes y sobre el papel importante que juegan los migrantes en Nueva York.
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13 Retailers Questioned By N.Y. Attorney General About Worker Scheduling
LA Times - April 13, 2015, by Samantha Masunaga - he scheduling practices of 13 retailers, including Gap Inc., Target...
LA Times - April 13, 2015, by Samantha Masunaga - he scheduling practices of 13 retailers, including Gap Inc., Target Corp. and Abercrombie & Fitch Co., are being scrutinized by New York Atty. Gen. Eric T. Schneiderman.
In a letter sent to the retailers, the attorney general's office said it had received reports that a growing number of employers, particularly in the retail industry, were requiring hourly employees to work on-call shifts. The office said it had “reason to believe” the 13 retailers might be using this kind of scheduling.
A New York state law requires that employees who are asked to come into work must be paid for at least four hours atminimum wage or the number of hours in the regularly scheduled shift, whichever is less, even if the employee is sent home.
California has a similar law that says employees must be paid for half of their usual time — two to four hours — if they are required to come in to work but are not needed or work less than their normal schedule.
The letter was also sent to J. Crew Group Inc.; L Brands, which owns Victoria's Secret and Bath and Body Works; Burlington Stores Inc.; TJX Cos.; Urban Outfitters Inc.; Sears Holdings Corp.; Williams-Sonoma Inc.; Crocs Inc.; Ann Inc., which owns Ann Taylor; and J.C. Penney Co.
The letters ask the retailers for more information about how they schedule employees for work, including whether they use on-call shifts and computerized scheduling programs.
Rachel Deutsch, an attorney at the Center for Popular Democracy, a New York worker advocacy group, said on-call scheduling can make it difficult for workers to arrange child care or pick up a second job.
“These are folks that want to work,” she said. “They’re ready and willing to work, and some weeks they might get no pay at all even though they set aside 100% of their time to work.”
Danielle Lang, a Skadden fellow at Bet Tzedek Legal Services in Los Angeles, said the attorney general’s action could have repercussions in other states.
“The New York attorney general is a powerful force,” she said. “It’s certainly an issue that’s facing so many of our low-wage workers in California, and anything that puts a highlight on this practice and really pressures employers to think about these practices is a good thing.”
Sears, Target and Ann Inc. said in separate statements that they do not have on-call shifts for their workers. J.C. Penney said it has a policy against on-call scheduling.
TJX spokeswoman Doreen Thompson said in a statement that company management teams “work to develop schedules that serve the needs of both our associates and our company.”
Gap said in a statement that the company has been working on a project with the Center for WorkLife Law at UC Hastings College of the Law to examine workplace scheduling and productivity and will see the first set of data results in the fall.
“Gap Inc. is committed to establishing sustainable scheduling practices that will improve stability for our employees, while helping toeffectively manage our business,” spokeswoman Laura Wilkinson said.
The remaining companies did not respond immediately to requests for comment.
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Multiple Arrests In Midtown During May Day Protests Outside Banks
Multiple Arrests In Midtown During May Day Protests Outside Banks
Hundreds of labor and immigrant advocates marched through east midtown early Monday in a demonstration against...
Hundreds of labor and immigrant advocates marched through east midtown early Monday in a demonstration against corporations which they say are profiting from President Trump's agenda—one of a series of May Day protests scheduled to take place throughout the city (and beyond) on Monday.
The specific targets of this action, according to organizers from Make The Road New York, are the Wall Street banks that help finance private prisons and immigrant detention centers. To that end, organizers said twelve protesters were arrested for peaceful civil disobedience while blocking the entrances outside of JPMorgan Chase, which is one of the companies named in Make The Road's and the Center for Popular Democracy's Backers Of Hate campaign.
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Puerto Rico Is Not Ready for 2018 Hurricane Season, Advocates and Members of Congress Warn
Puerto Rico Is Not Ready for 2018 Hurricane Season, Advocates and Members of Congress Warn
Power 4 Puerto Rico is described as a coalition seeking to push Congress to “put Puerto Rico’s economy on the road to...
Power 4 Puerto Rico is described as a coalition seeking to push Congress to “put Puerto Rico’s economy on the road to future growth and prosperity.” The Tuesday call was led by former New York City Council Speaker Melissa Mark-Viverito, now the coalition’s campaign director and a senior advisor to the Latino Victory Project. Rep. Adriano Espaillat (D-NY), Frankie Miranda, senior vice president for the Hispanic Federation, and Ana María Archila, co-executive director for the Center for Popular Democracy, were also on the call.
Read the full article here.
How to Build an Anti-Poverty Movement, From the Grassroots Up
The Nation - January 14, 2014, by Greg Kaufman - With more than 46 million people living below the poverty line,...
The Nation - January 14, 2014, by Greg Kaufman - With more than 46 million people living below the poverty line, struggling to survive on $19,530 or less for a family of three, and with more than one in three Americans living on less than twice that amount, scrimping to pay for basics, this country will require a broad-based movement to reverse the decades of failed national imagination.
The groups listed below are all worth watching as they do just that: galvanize communities, arm activists with information, and fight for living-wage jobs, stable housing and a strong safety net that catches people when they fall.
1. Coalition of Immokalee Workers: If you want to see what is possible through grassroots organizing by those who are most affected by poverty—or what it means to set a seemingly unreachable goal and persevere, or understand your opposition and find new ways to challenge it—look no further than the Coalition of Immokalee Workers.
When the CIW was founded in 1993, it was as a small group of tomato farmworkers in Immokalee, Florida, trying to end a twenty-year decline in their poverty wages. Who is historically more powerless than farmworkers? Yet today, most major buyers of Florida tomatoes have signed agreements with the CIW to pay an extra penny per pound for tomatoes. These agreements have resulted in over $11 million in additional earnings for the workers since January 2011.
In addition, through its Fair Food Program, the CIW has persuaded corporate buyers to purchase tomatoes only from growers who sign a strict code of conduct that includes zero tolerance for forced labor or sexual assault. As a result, the majority of growers (those accounting for 90 percent of the tomato industry’s $650 million in revenue) have agreed to that code. If major violations occur but don’t get corrected—and there’s a twenty-four-hour hotline for worker complaints—corporations will not buy from those growers.
The Fair Food Program serves as a new model of social responsibility, and its influence is clear in the recently signed agreement between retailers and factory owners in the Bangladesh garment industry. Follow the CIW not only to get involved with farmworkers but for a sense of what can be achieved through strategic, fearless organizing.
2. Center for Community Change: For forty-five years, the Center for Community Change has worked with low-income communities and local grassroots organizations to fight poverty. The CCC has intentionally worked behind the scenes, keeping the spotlight focused on members of the communities instead and organizing around issues ranging from voter registration, affordable housing and community development to, more recently, immigration reform, healthcare and retirement security.
Executive director Deepak Bhargava says, “We have chosen as our great task in this next era to build a nationwide movement against poverty and for economic justice. The core issue is jobs—making sure that good jobs are available and accessible to everyone.” The CCC plans to work with grassroots organizations at the local and state levels, and then form coalitions at the national level, to demand policies that create good jobs with good wages. Its goal, Bhargava says, is to help build “a massive, diverse, boisterous, energized and organized social movement.”
3. Children’s HealthWatch: This country’s political leaders talk a good game about their commitment to the well-being of children, but in too many cases, their actions tell a far different story. That story is captured, in part, by the pediatricians and healthcare professionals at Children’s HealthWatch.
CHW collects data at pediatric clinics and hospitals to show the real impact of public policy choices on the health, nutrition and development of children up to the age of 4. CHW research has shown, for example, that children receiving SNAP (food stamps) are less likely to be food insecure, underweight or at risk for developmental delays than their peers who are likely eligible for SNAP but not receiving it. CHW has also demonstrated the importance of affordable housing for children’s health, showing that children in households that move frequently or fall behind on rent are significantly more likely to be underweight, in fair or poor health, and at risk for developmental delays than their stably housed peers. And CHW has examined energy insecurity, showing that children in families struggling to afford utilities and keep their homes sufficiently heated or cooled are more likely to be food insecure, hospitalized at some point since birth, or to have moved twice or more in the past year.
By using science to evaluate whether our policies demonstrate a commitment to children and then proposing alternatives, CHW’s research guides activists past the bombast and rhetoric of today’s policy-makers.
4. Half in Ten: This campaign—which I am currently advising—is a project of the Coalition on Human Needs, the Center for American Progress Action Fund, and the Leadership Conference on Civil and Human Rights, and it has 200 partner organizations across the country. Its mission is simple: to cut poverty in half over ten years, just as we did between 1964 and 1973.
Through its comprehensive annual report, Half in Ten tracks the country’s progress toward this goal and outlines the many policies that could help slash poverty. In its 2007 inaugural report, Half in Ten demonstrated how poverty could be reduced by 26 percent simply by passing a modest increase in the minimum wage (to $8.40 at the time), expanding the earned-income tax and child tax credits, and providing affordable childcare to low-income families, among other proposals. Our leaders failed to make those recommended policy changes, and then the economy crashed, burying ever more Americans in deeper holes.
But Half in Ten keeps pushing toward its goal. In addition to policy analysis, the campaign mobilizes local groups in the field to speak out and take action during congressional policy debates. The campaign also works through its “Our American Story” project to ensure that low-income people have opportunities to tell their stories to the media, policy-makers and other advocacy groups. Follow Half in Ten to get a sense of the anti-poverty policy landscape, take action at the federal level, and hear powerful stories about individuals and families who are struggling to survive in this broken economy.
5. Occupy Our Homes/Home Defenders League: Many of us would like to believe that the foreclosure crisis is over, but the fact is that far too many people are still losing their homes because banks refuse to modify mortgages, fail to return phone calls, or simply (and scandalously) file fraudulent paperwork. If my family or neighbors were ever in a dire situation with a bank that refused to work with them, Occupy Our Homes and the Home Defenders League (HDL) are the allies I would want on my side.
With community partners in more than twenty-five cities and states, these activists help homeowners organize protests, call-ins to bank officials, and other actions to cut through the bureaucratic roadblocks that individuals and families encounter when they deal with the banks. They also show up with neighbors to stop forced evictions.
In May, Occupy and HDL mobilized hundreds of people for a sit-in at the Justice Department, successfully shaming the feds and playing a key role in restarting stalled litigation against Wall Street. They are also collaborating with dozens of local groups, large and small, to rebuild the wealth stripped out of communities of color by pressing cities to use their power of eminent domain to do what the banks have refused to do: enact wide-scale principal reductions.
6. Center on Budget and Policy Priorities: As we approach the fiftieth anniversary of the War on Poverty, conservatives are deploying bogus “studies” and revisionist history to attempt to discredit programs that are not only vital to people who are struggling, but have been proven effective in preventing much higher poverty rates. The Center on Budget and Policy Priorities does a forceful job of countering this misinformation with analyses that—tellingly—conservatives rarely challenge.
During policy debates about programs like SNAP, TANF (welfare), healthcare, housing, Social Security, disability insurance, Medicaid, Medicare and other domestic priorities, you can count on CBPP experts to provide vital, clear-eyed analysis of how government programs work. Follow the work of policy wizards like Arloc Sherman, LaDonna Pavetti, Liz Schott, Jared Bernstein, Robert Greenstein, Douglas Rice, Kathy Ruffing and others to get the information you need to see through the spin, misinformation and outright lies about key policies that combat poverty.
7. Jobs With Justice: For twenty-six years, Jobs With Justice has built powerful coalitions with labor, community, student and faith leaders to protect and advance the rights of working people. Most recently, Jobs With Justice has played a pivotal role in the national Caring Across Generations campaign, which helped secure historic overtime and minimum-wage protections for homecare workers. Its Debt-Free Future campaign has mobilized students and concerned citizens to make college more affordable, expose abusive private lenders and win debt relief for working families. Jobs With Justice is also a critical partner in challenging the exploitative labor practices of employers like Walmart and the large fast food chains, and in protecting the right of immigrant workers to organize without threat of retaliation.
With its savvy use of strategic communications, original research and on-the-ground mobilizing, Jobs With Justice is challenging the structural problems of our economy in creative and effective ways.
8. Western Center on Law and Poverty: Translating grassroots activism into legislative victories will require strong inside/outside partnerships at the local, state and federal levels. One group that has mastered this delicate dance is the Western Center on Law and Poverty in Sacramento, California.
California is the seat of some of the poorest congressional districts in the nation, and it’s also home to more poor Americans than any other state. For over a decade, the state government has been dominated by budget austerity—California was the epicenter of the “no tax” pledge—as well as the kind of budget brinkmanship that now plagues Congress. But in part through the Western Center’s leadership, advocates have moved from simply defending against cuts to articulating a shared vision for a more vibrant, inclusive economy.
The Western Center has spearheaded new alliances among women, immigrants, the working poor, people without homes, the formerly incarcerated, food stamp recipients, labor union members, college students, youth and others, creating new opportunities for low-income people to get involved in effecting change. The result has been a series of notable victories, such as requiring call centers serving Californians who need public assistance to be located in-state in order to create jobs; restoring dental care through Medicaid; enacting protections against excessive bank fines or fees; introducing a Homeless Bill of Rights to outlaw the criminalization of homelessness; and protecting SNAP from federal cuts. The Western Center and its allies have also defended against bad policy proposals like the ALEC-inspired legislation to drug-test public assistance applicants. Follow this group to see how diverse coalitions get results at the state level.
9. Center for Hunger-Free Communities, Witnesses to Hunger: Founded in Philadelphia in 2008, Witnesses to Hunger is a research and advocacy project led by mothers and other caregivers of young children who have experienced hunger and poverty. Through photography and testimonials, Witnesses advocates for change at the local, state and national levels. There are now more than eighty Witnesses in various cities, including Philadelphia, Camden, Boston and Baltimore. (A new chapter in Sacramento is in the works.) In addition to lobbying Congress on issues like food stamps, welfare and affordable housing, Witnesses is vocal in its insistence that people living in poverty be included in conversations among advocates and political leaders in Washington, where low-income people are too often talked about but never heard. Follow this group to learn about poverty and hunger—which policies help, which policies harm—and to work directly alongside those living in poverty.
10. NETWORK: While the real power of an anti-poverty movement will come from the grassroots, a national leader who mobilizes people of faith and speaks with prophetic authority can play a powerful role—especially since the opposition so often cites Scripture as a justification for stripping the safety net.
Sister Simone Campbell and NETWORK, a Catholic social justice lobby, captured the attention of millions of Americans as well as the mainstream media with their 2012 “Nuns on the Bus” Tour challenging Congressman Paul Ryan’s reckless budget proposals. Since then, Sister Simone has proved that she can not only tap into a network of progressive faith-based organizations, but also respond effectively to the absurd proposition that charities and religious institutions can address the needs that arise from a broken economy on their own, without the help of government resources. What’s more, she was masterful during Ryan’s hearing on the War on Poverty, eloquently batting away assertions that social programs create dependence and that the minimum wage should be banned, as well as challenges to her own standing as a Catholic.
While an anti-poverty movement will need nonviolent civil disobedience and avenues to express anger and despair, Sister Simone and NETWORK have shown that it’s possible to beat the opposition at its own game.
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NATIONAL GROUPS CALL FOR DNC TO CAN SUPERDELEGATE SYSTEM
NATIONAL GROUPS CALL FOR DNC TO CAN SUPERDELEGATE SYSTEM
Fourteen national organizations boasting more than 10 million members are calling on the Democratic National Committee...
Fourteen national organizations boasting more than 10 million members are calling on the Democratic National Committee to end the use of superdelegates to elect the presidential nominee.
The move to end the use of superdelegates was pushed vigorously during the campaign by Sen. Bernie Sanders but many of those supporting the effort include backers of Hillary Clinton, the presumptive Democratic nominee.
DNC Rules Committee member and Rhode Island State Representative Aaron Regunberg has pledged to introduce language to end superdelegates, and several other Rules Committee members have agreed to support the effort at the Democratic National Convention at the end of July.
The organizations said in a joint letter that the superdelegates, who are typically party officials, are not elected by voters and can skew the nominating process. They say the superdelegates carry as much as the combined weight as pledged delegates from 24 states, the District of Columbia and four territories.
Organizations signing on to the letter include: Courage Campaign, Credo, Daily Kos, Demand Progress/Rootstrikers, Democracy for America, Center for Popular Democracy, MoveOn, National Nurses United, NDN, The Other 98%, Presente.org, Progressive Change Campaign Committee, Progressive Democrats of America, and Social Security Works.
Simon Rosenberg, the president of NDN and a former DNC staffer, who supported Hillary Clinton during the primary, said the use of superdelegates is “discordant with broader and vital efforts by Democrats to modernize and improve our democracy. If we want the voice of everyday people to be louder and more consequential in our nation’s politics, it must also be so in our Party.”
Another Clinton supporter, Joe Trippi, who ran Howard Dean’s unsuccessful presidential campaign in 2004, said a key party goal is to “empower voices from the bottom up. The top down idea of superdelegates is obsolete and is a good place to start.”
Sanders’ supporter Rep. Tulsi Gabbard, a superdelegate and former DNC official, also condemned the practice.
“The nominee of our party should be decided by who earns the most votes —not party insiders, unelected officials, or the federal lobbyists that have been given a vote in our nominating process. The current system stands against grassroots activists and the will of the voters,” she said. “We’ve seen a historic number of new voters and activists join our political process in the past year, many of whom are rightly upset at how rigged the political system can seem at times. If we want to strengthen our democracy and our party, we must end the superdelegate process.”
By MARK JOHNSON
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Warren leads crusade for diversity at Fed
Warren leads crusade for diversity at Fed
“I’m judging John Williams based on the last several years of him being wrong about the levels of maximum employment...
“I’m judging John Williams based on the last several years of him being wrong about the levels of maximum employment and pushing for additional [interest rate hikes] prematurely because that mistake puts millions of jobs at risk,” said Shawn Sebastian, who co-leads the Fed Up coalition comprising advocacy groups and unions.
Read the full article here.
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