02.14.2017

WASHINGTON, DC - This morning the Fed Up campaign, an initiative of the Center for Popular Democracy, held a rally with members of its coalition and concerned members of the public before Federal Reserve Chair Janet Yellen’s congressional testimony. During the rally, members dressed as Donald Trump and Goldman Sachs performed a mock wedding ceremony. Members dressed as swamp monsters explained how the Financial CHOICE Act would crash the economy and stop the Fed from pursuing full employment.

During the rally, which was held inside the Dirksen Senate Office Building, coalition members discussed how the proposed Financial CHOICE Act undermines workers’ ability to get the wages and jobs they need, as well as its potential to lead the U.S. economy to another devastating financial crisis. Maria Rubio of Make the Road NY spoke of her life as an immigrant and a domestic worker. Tyrone Ferguson of One Pennsylvania spoke of how he lost his home due to the last financial crash.

“The Trump administration’s economic agenda is an attack on anyone who is not a billionaire. Trump made a series of empty promises on the campaign trail about jobs, but as President he has handed over control to Goldman Sachs and the banks that controlled the economy,” said Shawn Sebastian, Fed Up Co-Director. “His first executive order was to give Wall Street free license to lie to workers about their retirement savings, and now the Financial CHOICE Act will speed us to another economic crash that will take us even lower, and whose effects will last even longer.”

The Fed Up coalition brings the voices of working families and communities of color to economic policymakers at the Federal Reserve and in Congress. The coalition urges policymakers to focus on full employment and communities left behind by the recovery from the financial crisis.

If enacted, the Financial CHOICE Act will lay the groundwork for further corporate control over the Federal Reserve and undermine the full employment mandate. This combination of deregulation and interference with the Federal Reserve would mean millions of jobs lost, lower wages, and devastation for workers.

“Fed Up is urging policymakers to stand up and fight for working people, not big banks, and to focus on full employment and preventing the next crash. Fed Up will continue to work with our coalition of consumer advocates, labor, and economic justice organizations in states throughout the country to fight the Financial CHOICE Act,” added Sebastian.

Photos and video from the rally can be found at the CPD and CPD Action Twitter feeds. Additional photos are available upon request.

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www.populardemocracy.org

Center for Popular Democracy promotes equity, opportunity, and a dynamic democracy in partnership with innovative base-building organizations, organizing networks and alliances, and progressive unions across the country. CPD builds the strength and capacity of democratic organizations to envision and advance a pro-worker, pro-immigrant, racial justice agenda

www.whatrecovery.org

Fed Up is a coalition of community organizations and labor unions across the country calling on the Federal Reserve to reform its governance and adopt policies that build a strong economy for the American public. The Fed can keep interest rates low, give the economy a fair chance to recover, and prioritize genuine full employment and rising wages for all communities

Media Contact:

Autumn Dunn, adunn@populardemocracy.org, 216-224-6861

Asya Pikovsky, apikovsky@populardemocracy.org, 207-522-244