Activists who are against a Federal Reserve interest-rate increase planned Tuesday to stage a protest outside the Federal Reserve Bank of Philadelphia. The demonstration was expected to target the bank’s new president, Patrick Harker, as part of the “Fed Up” campaign, a national coalition of families and community leaders calling on the Fed to adopt pro-worker policies.
The activists expected anywhere from 15 to 20 people, including workers, small-business owners and clergy, at the demonstration, aimed at pressuring Harker to take a tour of Philadelphia’s low-income neighborhoods, Politico reported. Although Harker this summer informally agreed to meet with the coalition, the Federal Reserve Bank of Philadelphia has backed out of that commitment, activists said.
Kendra Brooks, a leader of Philadelphia’s Fed Up coalition, said she has been urging Harker to meet with more than just the heads of nonprofits and corporations, Politico reported. She tried to get a commitment from Harker at the Fed’s symposium in Jackson Hole, Wyoming, in August, and posted video of their encounter on YouTube.