The Fed Just Inched Closer To Raising Interest Rates
The Federal Reserve announced on Wednesday that it will keep interest rates at or near zero for now, but implied it...
The Federal Reserve announced on Wednesday that it will keep interest rates at or near zero for now, but implied it would soon raise them, alarming left-leaning activists and economists concerned about stagnant wages.
The Federal Open Market Committee (FOMC), which is the central bank’s body responsible for managing key interest rates, said in a statement that its decision was based on the conclusion that interest rates of zero to 0.25 percent -- known as the “zero lower bound” -- were still needed to “support continued progress toward maximum employment and price stability.” The statement refers to the Fed’s dual mandate to both pursue full employment and keep inflation low through its control of the money supply.
The FOMC said that inflation in particular continues to remain too low to warrant an interest rate hike.
“Inflation continued to run below the Committee's longer-run objective, partly reflecting earlier declines in energy prices and decreasing prices of non-energy imports,” the committee said in the statement.
However, the Fed also indicated in its statement that it is optimistic about the pace of economic growth, buoying expectations of a rate hike in September when the FOMC meets next. Many analysts have been predicting that the Fed would raise rates as soon as September, or at least before the year’s end.
The FOMC statement noted that “economic activity has been expanding moderately in recent months. The labor market continued to improve, with solid job gains and declining unemployment.”
The Fed has kept the primary interest rate it controls near zero since December 2008.
Many activists and economists, including the left-leaning nonprofit Center for Popular Democracy’s Fed Up campaign, believe that the Fed has prioritized the inflation half of its dual mandate at the expense of full employment. They argue against raising rates before unemployment gets low enough for employers to raise wages. And they are especially considered that unemployment rates remain disproportionately high in communities of color.
The Fed Up campaign was pleased that the Fed did not raise rates on Wednesday, but called the lack of a rate hike a “low bar,” since it was not even expected by most observers. Instead, the campaign emphasized its frustration with the FOMC statement for ignoring signs of slack in the job market.
“The FOMC statement hails ‘solid job gains,’ but does not mention that the most recent job figures showed a slowdown in wages,” said Jordan Haedtler, deputy campaign manager for Fed Up. “The downward trend in wages is a major reason why the Fed should not raise interest rates in 2015.”
Source: Huffington Post
Democrats amass enough support for filibuster against Gorsuch nomination
Democrats amass enough support for filibuster against Gorsuch nomination
Democrats on April 3 amassed enough support to block a U.S. Senate confirmation vote on President Donald Trump’s...
Democrats on April 3 amassed enough support to block a U.S. Senate confirmation vote on President Donald Trump’s Supreme Court nominee, Neil Gorsuch, but Republicans vowed to change the Senate rules to ensure the conservative judge gets the lifetime job.
As the Judiciary Committee moved to send Gorsuch’s nomination to the full Senate, Sen. Christopher Coons became the 41st Democrat to announce support for a procedural hurdle — a filibuster — requiring a super-majority of 60 votes in the 100-seat Senate to allow a confirmation vote...
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CPD's Connie Razza Joins MSNBC's Melissa Harris-Perry to Discuss the Strength of the Dollar
Melissa Harris-Perry - March 22, 2015 - How does the strength or weakness of the dollar affect average Americans?...
Melissa Harris-Perry - March 22, 2015 - How does the strength or weakness of the dollar affect average Americans? Joshua Steiner and CPD's Director of Strategic Research Connie Razza join to discuss.
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Latino Construction Workers Continue to Die on the Job Because of Unsafe Conditions
Fox News Latino - January 16, 2015 - A new analysis of federal safety data found that while overall jobs in the...
Fox News Latino - January 16, 2015 - A new analysis of federal safety data found that while overall jobs in the construction industry are getting safer, Latino workers are still getting injured at alarming rates.
According to the data, between 2010 and 2013, the number of deaths among Latinos in the construction industry rose from 181 to 231. The number of deaths also rose in the industry overall, from 774 to 796, but that increase is attributed entirely to Latinos. During the same period, deaths for non-Latino construction workers fell from 593 to 565.
Each day across the country, hundreds of day laborers and migrant workers wait in street corners waiting to get hired. They are sometimes picked up by contractors or subcontractors looking to cut corners by hiring cheap labor that won’t expect benefits – most undocumented workers live in the shadows and, in general, don’t qualify for any federal benefits.
"There’s a clear correlation between low-wage jobs and unsafe jobs," said Occupational Safety and Health Administration chief David Michaels, according to the Nation. "Workers in low wage jobs are at much greater risk of conditions that will make it impossible for them to live in a healthy way, to earn money for their family, to build middle class lives."
Another reason for the spike in deaths is a rise in safety violations on job sites run by smaller, non-union contractors and an unwillingness by some undocumented workers to report violations, according to a 2013 study by the New York State Trial Lawyers Association.
"Contractors aren’t taking simple steps to protect their workers," Connie Razza, from the Center for Popular Democracy, told the New York Daily News. "They are not providing the training and the safety equipment that are required by law."
Advocacy groups are working to combat any changes to New York’s scaffolding law, which organizations like the Center for Popular Democracy say gives incentive to keep workplaces safe. The law holds owners and contractors who did not follow safety rules fully liable for workplace injuries and deaths.
Contractors argue that it has driven up insurance costs to record levels.
Lawmakers, however, have historically blocked any of the proposed changes to the law.
"All we’re looking for is the ability to have the same right as anybody else would in the American jurisprudence system," said Louis J. Coletti, president and CEO of the Building Trades Employers' Association.
In an attempt to make their work environments safer, some day laborers have joined together to seek protection through collective action. In the wake of Hurricane Sandy, some day laborers in New York City turned to one another about the dangerous conditions, and decided together how to deal with them.
The Bay Parkway Community Job Center in Brooklyn brought in safety experts for guidance; community groups and foundations rallied around the laborers, helping them buy their new trailer with several grants.
With the help of organizations such as the Worker’s Justice Project, laborers learned about wage and hour laws, the hazards of exposure to certain building materials and what kinds of actions or treatment by the people who hire them constitute abuse and violations.
"When something isn’t right, at that moment, you may not realize it or attach much significance to it," Rafael Tecpanecatl, a laborer who came from Mexico 11 years ago told Fox News Latino. "I’ve worked many jobs that I realized later were hazardous to my health. I’d get on ladders that were not steady, I’ve sanded walls and cut plywood and had debris go into my eyes and lungs."
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This Week In Sports Law: Ezekiel Elliott News, Phil Ivey U.K. Loss, Pop Warner Case Goes On
Dallas Cowboys running back Ezekiel Elliott will suit up and play against the Washington Redskins, as the ongoing drama...
Dallas Cowboys running back Ezekiel Elliott will suit up and play against the Washington Redskins, as the ongoing drama in the courtroom over the NFL's tabled six game suspension continues. On Monday, the U.S. district court judge in New York denied the NFL's attempt to hurry up the scheduling on a hearing that will provide more clarity as to whether Elliott will actually be held out of any games this season while the case goes on.
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Neoliberals Are Taking All the Wrong Lessons From Conor Lamb’s Victory
Neoliberals Are Taking All the Wrong Lessons From Conor Lamb’s Victory
“The recent CPC Strategy Summit in Baltimore was brimming with such ideas, which are enjoying new traction thanks to...
“The recent CPC Strategy Summit in Baltimore was brimming with such ideas, which are enjoying new traction thanks to shifting political winds. Though there’s no consensus as of yet as to what a full-fledged progressive platform might look like, the most recent People’s Budget offers hints in that direction. The Center for Popular Democracy’s Ady Barkan, who received an award from the CPC for his work organizing against the Obamacare repeal and Trump’s tax plan, suggested the party could pioneer a different way of thinking about spending and budgets.”
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Sexual Assault Survivors Personally Confront Senator Jeff Flake, Who Said He'll Vote Yes for Kavanuagh
Sexual Assault Survivors Personally Confront Senator Jeff Flake, Who Said He'll Vote Yes for Kavanuagh
Sexual assault survivors personally confronted Senator Jeff Flake after he said he'd vote to confirm Supreme Court...
Sexual assault survivors personally confronted Senator Jeff Flake after he said he'd vote to confirm Supreme Court nominee Brett Kavanaugh this morning. Flake, who is a republican from Arizona and considered a key swing vote, made his announcement less than 24 hours after both Dr. Christine Blasey Ford and Kavanaugh testified on her allegations that the Supreme Court nominee sexually assaulted her in high school.
Read the full article and watch the video here.
Report: Pa. Charter Schools Lost 30M to Fraud, Mismanagement
Daily News - October 1, 2014, by Regina Medina -THE STATE'S charter schools are out $30 million due to chicanery and...
Daily News - October 1, 2014, by Regina Medina -THE STATE'S charter schools are out $30 million due to chicanery and waste since the 1997 charter-school law was enacted, according to a report released yesterday by three grass-roots education groups.
The report, "Fraud and Financial Mismanagement in Pennsylvania's Charter Schools," was authored by the Center for Popular Democracy, Integrity in Education and Action United. It calls for, among many recommendations, a moratorium on new charter schools, changes to the oversight structure and legal protections "to encourage whistle-blowers to report instances of fraud."
The state's oversight of charter schools is "not effectively detecting or preventing fraud," the report says.
The charter-school law mandates general auditing techniques, which the report claims may find inaccuracies but won't detect abuse. The report urges that charter schools follow practices used by federal agencies and conduct targeted audits that look into high-risk areas.
The report adds that whistle-blowers within the charter organizations and the media have exposed the majority of fraud cases and suggested that oversight agencies increase staffing to adequate levels.
In Philadelphia, the district Charter School Office oversees the city's 86 charters. The office has five staffers and no director.
The report cites specific cases of fraud around the state including the following from Philadelphia:
* Two officials with the Philadelphia Academy Charter School, Kevin O'Shea and Rosemary DiLacqua, were convicted in 2009 of defrauding the school of more than $900,000. They submitted fraudulent invoices for personal expenses.
* Ina Walker, former CEO, and Hugh Clark, founder, of the New Media Technology Charter School, were sentenced to prison for stealing $522,000 in taxpayer funds, which were used to fund a restaurant and a private school.
* Dorothy June Brown, who founded a number of charter schools including Laboratory Charter and Planet Abacus, is to be retried this year for allegedly defrauding $6.5 million from the schools and then attempting to cover it up.
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Pittsburgh to host progressive activists, leaders at National People’s Convention
Pittsburgh to host progressive activists, leaders at National People’s Convention
In Seattle’s 2013 election, Nick Licata broke the city’s record for the most votes received citywide for a city...
In Seattle’s 2013 election, Nick Licata broke the city’s record for the most votes received citywide for a city councilor in a contested race. That same year he was named the country’s Most Valuable Local Official on The Nation’s list of most valuable progressives.
During his time on council, Licata sponsored and passed legislation like paid sick leave and supported a plan to raise Seattle’s minimum wage to $15 an hour, two social-justice objectives sought by activists around the country. At the end of last year, the veteran Seattle city councilor retired after 18 years in office.
That’s not the end of Licata’s social-justice crusade, however. This week he’ll visit Pittsburgh to attend two conventions on social-justice issues and share insights from his recently released book, Becoming a Citizen Activist.
“My primary mission right now,” says Licata, “is to work with both citizens and elected [officials] to recognize that no matter what happens after November, it’s critical that we maintain an activist space at the local level, because we’ve shown at the local level we can accomplish things, and we can continue to accomplish things no matter who is president.”
Pittsburgh and other cities haven’t seen as much progress on paid sick leave and the Fight for $15 as has Licata’s native Seattle. Pittsburgh City Council passed a paid-sick-leave bill last year, but a judge struck it down in December as unenforceable. And while the city and some employers have raised their minimum wage to $15 an hour, a mandatory minimum wage citywide is a ways away.
But Pittsburgh must be doing something right because it was selected to host those two social-justice conventions. The People’s Convention will bring more than 40 national activist organizations to the city, while the Local Progress Convening will see the arrival of hundreds of progressive municipal elected officials.
“Pittsburgh was identified as a place where [the] movement is very real,” says Erin Kramer, executive director of social-justice group One Pittsburgh. “There’s more workers organizing per capita in Pittsburgh than any other city in the country right now. There’s something happening in Pittsburgh right now, and folks want to come see it and learn from it.”
The pairing of the events isn’t an accident. They’re both sponsored by the Center for Popular Democracy, a group that works to build alliances between progressive organizations and politicians. Participants say collaboration between the two bodies is integral to ensuring progressive laws are passed and enacted.
“It is very important for elected officials who are trying to advance social change to have a direct understanding of the specific concerns of communities,” says Ana Maria Archila, co-executive director of Popular Democracy. “And it’s very important for community members to have relationships with elected officials. We know in the places where working families are winning we need both the pressure on the outside and the strategy on the inside.”
Jimmy John’s employee Chris Ellis has worked in the fast-food industry for more than two decades and has become a leader in the local Fight for $15. At the People’s Convention next week, he’ll have the opportunity to meet leaders from movements in other cities throughout the country.
“[I hope to learn] better organizing skills not just for the Fight for $15 movement but for all movements in general,” Ellis says. “I’m the type of person who sees myself trying to organize other fights, because once this fight is over, I’m looking for other fights.”
The interconnectedness of social-justice issues is widely recognized by activists. The People’s Convention will focus on topics like workers’ rights, health care, gun violence and education — issues that One Pittsburgh, which is part of the hosting committee, has been working on for more than a decade. The idea is to collaborate on these issues to build momentum and produce results.
“In Pittsburgh there’s lots of progressive work on half-a-dozen different issues at any given time, and increasingly those organizations are building partnerships with each other,” says Kramer, from One Pittsburgh. “We’ve been getting together to learn from each other and build our campaigns together. What I think folks are increasingly realizing is whether it’s housing, minimum wage or education justice, it’s really the same people who need to come together to build power to build a city that works for all of us.”
The event will develop strategies for appealing to lawmakers, but will also address barriers in cities where the majority of elected officials are already supportive of social-justice movements.
“Increasingly, we find ourselves literally preempted from solving problems at the local level by state legislatures that are unfriendly to the solutions we would propose,” says Kramer. “A good example is where we passed paid-sick-day legislation for tens of thousands of people in Pittsburgh and immediately it goes in front of the court because the restaurant association [the Pennsylvania Restaurant and Lodging Association] objects. The reason we don’t have a $15-an-hour minimum wage for the vast majority of Pennsylvanians is because you can’t do that at the city level.”
Combating these barriers that stifle progress at the municipal level — and particularly, developing strategies for fighting lawsuits against progressive laws — is something that will be discussed at the Local Progress convention this weekend as well.
“It’s the strategy,” says Licata, a Local Progress co-founder. “It’s smart on [the opposition’s] part, and I think that’s what we’ll see in other cities — corporate strategy to try to limit [these laws]. What I would like to see as we see more of these lawsuits being filed is Local Progress use our network to work on national strategies to fight these corporate challenges through the court system.”
To ensure laws fall within a city’s jurisdiction, Local Progress has also been holding workshops to examine the power that states hold over local municipalities. And they’re also looking into legislation that is being passed to further limit cities’ rights.
“As a rule of thumb, cities are creatures of the state,” says Licata. “Over half the states limit the authority of cities, and one of the ongoing battles we’re having that impacts local politics is the whole issue of states limiting citizens’ rights. We’ve been fighting on that. It’s a major concern.”
Ultimately, as a former activist turned politician turned activism author, Licata says the intersection of the two events and collaboration is important to ensuring that things like paid sick leave and a $15-an-hour minimum wage are realized.
“People at the People’s Convention and the politicians at Local Progress are literally the same people. A lot of the people at Local Progress were activists,” he says. “When someone gets elected to office, people who got the person elected to office think he or she will take care of the problems, and the person who gets elected thinks, ‘Oh, I have to act differently.’ But you have to continue organizing and use the power you get as an elected official to amplify your organizing.
“Government is a tool. It’s not an end-product. I think getting into office does give you more power, but you want to distribute that power so other people have access to power. The main ask of progressive politicians who want to build communities is to disperse the power that was given to them to as many people as possible.”
According to Pittsburgh Mayor Bill Peduto, who as city councilor joined Local Progress nearly a decade ago, the group can counterbalance those organizations that are trying to get conservative legislation passed.
“Certainly we’ve learned from other cities through these organizations,” says Peduto. “We hear a lot about ALEC [American Legislative Exchange Council] and how it is a network that is putting state legislatures into very conservative, Tea Party-type of policies, and it networks nationally. Well, this is the answer, and these organizations have become the network that helps progressive policies to work their way into implementation in city halls. And the fact that they chose Pittsburgh to do it shows that we are a part of that network and one of the areas that the rest of the country looks towards.”
Like Peduto, event organizer Popular Democracy hopes its network of activists and politicians will have the ability to shape the future of the country.
“It’s a really important moment politically because our nation is at a crossroads between the politics of hate and xenophobia and the politics of opportunity and interdependence,” says Popular Democracy’s Archila. “We are in the process of a presidential election where the issues that matter to the working-class community are really centrally positioned in the debate. How the solutions are advanced will depend on who is in motion. And we will have in Pittsburgh thousands of people who are in motion across the country and who are helping define the debate for what’s possible in their cities.”
By Rebecca Addison
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Corporate power on the agenda at Jackson Hole
Corporate power on the agenda at Jackson Hole
Protesters from the Fed Up group will once again be on hand this year as they campaign for central bankers to focus...
Protesters from the Fed Up group will once again be on hand this year as they campaign for central bankers to focus more on inequality and depressed wages.
6 days ago
6 days ago