Fed up with the economy?
Turns out there's a little committee in charge of making sure you don't get a raise.
Why haven't wages risen in 40 years? It's not just bad luck. The mostly invisible, ultra-powerful folks who run at the Federal Reserve have gone to great lengths to keep it that way. When too many people get jobs, when pay starts going up... wham! They knock things back down again.
But lately, things have been a little different. The financial crisis jolted the Fed into superhero mode—and Janet Yellen, the new boss, seems determined to make the economy work for regular people. Trouble is, the old guard's not happy about it. What's needed is another jolt, a fresh infusion of real-world voices. And now, an unlikely group of outsiders is stepping up to provide it.
Meet Action United's Kendra Brooks, the AFL CIO's Damon Silvers, and the Center for Popular Democracy's Ady Barkan—and go inside what might be the wonkiest and most important economic-justice fight of the year. Or the decade. http://tgf.fm/34
Originally posted on October 15, 2014
AFL-CIOThe umbrella federation for U.S. unions.
Ady BarkanStaff Attorney at the Center for Popular Democracy
Center for Popular DemocracyBuilding capacity to win a pro-worker, pro-immigrant, racial & economic justice agenda.
Damon SilversDirector of Policy and Special Counsel for the AFL-CIO
Kendra BrooksMember, Action United
MoveOn.org8 million progressives fighting for change.
- For more information about the Federal Reserve's and other international central bankers' annual hangout session in Jackson Hole, check out this super-fancy official website. Juicy details include: a complete history of the symposium (the tradition started three decades ago!), more information about this year's meeting (they adjourn each day at 2pm!), a complete guest list (check it, maybe someone you know went!), and others.
- Center for Popular Democracy explains why it's organizing protests at the Fed's annual Jackson Hole symposium.
- Here's The New York Times' coverage of Chairwoman Janet Yellen's remarks at this year's symposium. Our guest Ady Barkan is quoted at the end of the article.
- Like us, Vox wants you to meet the activists who protested in Jackson Hole to get their voices heard and considered as central bankers weigh policies. Our guest Kendra Brooks is quoted there!
- Bloomberg News covered the protests, too.
- The blogger who inspired this whole campaign was Matt Yglesias. Here's his terrific explanation of the Fed. Here's his much shorter one. And here's his latest piece, about why Obama's failure to focus on the Fed is his single biggest economic policy mistake.
Music Credits (in order of appearance)
- Kevin MacLeod - As I Figure
- Royalty Free Kings - Cloak and Dagger (no drums)
- Blue Ducks - What's Up With The Swing
- Augustus Bro - Led by the Dress Colored in Red
- Gillicuddy - Adventure Darling
- Junip - Howl (Live@KEXP)
- Monster Rally - Sun Bum
- Dad Rocks! - Weapons