March 24, 2015

FED UP

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Activists at the Philadelphia Federal Reserve, March 5th, 2015. For the news article click HERE.

What is FED UP? : A national coalition of organizations, FED UP reflects the feelings of those forgotten black and brown families in low to moderate income communities. For too many years, corporate elites and bankers have been pulling the strings and making financial decisions behind closed doors, with little to no input from the communities that they are governing financially. We are here to say we are FED UP with the attitude of the Federal Reserve.

For more information on the national campaign, visit WhatRecovery.org. Get involved online using #WhatRecovery

WHAT WE’VE DONE:

On Friday November 14, 2014, ACTION United and Working Families’ party joined 35 workers, faith leaders, organizers and economists to meet with Chair Janet Yellen at the Federal Reserve (FED) in Washington DC. We shared stories about the weakness of this “recovery”, asked her to commit to building a stronger economy with millions of new jobs and rising wages and a more accountable and democratic Fed.

On Monday December 15, 2014 at 11:00 am we held a commemorative march from Independence hall to the Federal Reserve bank at 6th and Race to hold a press conference, symbolizing the key principals this country was founded upon. We combined forces with other organizations on the march like Fight For Philly, New Inspiration Baptist church, PUP, IDAAY and The Keystone Research Center, and the Philadelphia Director of Civic Engagement, Lance Haver.

For more information e-mail the organizer of the Philadelphia campaign @ khinton@actionunited.org.

More Information/Updates:

AUGUST 27th, 2015

The Federal Reserve controls the monetary policies of the United States, affecting interest rates and wages for everyone in this country. On August 27th, ACTION United alongside the Center for Popular Democracy headed to Jackson Hole, Wyoming, to talk to the Federal Reserve and put forth the demands of the community.

Here are the hard facts. While economists tout that our economy is getting stronger month after month, income inequality and disparity remains at an all time high. According to Emmanuel Saez, an economics professor at UC-Berkeley the top 10% of earners make over 50% of the pre-tax income in the United States. So while the pockets of investment bankers fill up, the middle class is being squeezed out of the equation. Regular people in the community are being left behind, either underemployed or unemployed with no avenue for success. For many, the idea of the American Dream has become just that–nothing but a dream.

Here’s what they don’t get. We aren’t numbers and we aren’t statistics. We are the people, we are the community and we are the individuals that built this country. When financial advisers look at the numbers and say we are recovering from a recession, they aren’t seeing the families suffering from poverty in this country and they are ignoring an entire population of people–the people who made this country great.

Joseph Stiglitz, Nobel prize-winning economist and professor of economics at Columbia University, left, speaks during a protest held by the Fed Up Coalition during the Jackson Hole economic symposium, sponsored by the Federal Reserve Bank of Kansas City, at the Jackson Lake Lodge in Moran, Wyoming, U.S., on Thursday, Aug. 27, 2015. The symposium gathers central bankers, finance ministers, academics, and market participants to discuss the theme of "Inflation Dynamics and Monetary Policy". Photographer: David Paul Morris/Bloomberg via Getty Images

At Jackson Hole we held workshops with top financial experts who agreed with us. Interests rates need to stay low, wages need to rise, and through this we can create sustainable, decent, middle class jobs for people in this country. Whether it is Nobel Prize winning economist Joseph Stiglitz or a low income member of ACTION United, we all see the problem clearly. The rich keep getting rich off of the back of the 99%, and the rest of us are left to suffer with poverty wages and underemployment.

There, we also spoke with Patrick Harker, Philadelphia Fed President, and demanded that he come see the conditions of our neighborhoods and listen to our demands. He has agreed and promised to listen to the true voices of Philadelphia. Once he takes a tour with us through our neighborhoods and gets to meet the people there, he will see the real condition of this “recovery.”