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04.02.19

Shearon Meets with Federal Reserve Chairman, Governors

This week IFPTE President, Paul Shearon, joined other union leaders in a meeting with Federal Reserve Chairman, Jerome Powell, to discuss the impact that the Federal Reserve’s monetary policy decisions have on the lives of working Americans.

The meeting, chaired on the labor side by AFL-CIO President, Richard Trumka, focused on labor’s suggestions for a monetary policy that encourages job and wage growth, which in turn results in a strong economy. President Shearon commented on the meeting, saying, “it is critically important to lower and middle-income workers that the Federal Reserve not only remain a truly independent government entity free of political influence, but it also push a monetary agenda, including decisions with respect to short term interest rates and use extreme caution when attempting to unwind the Federal Reserve’s balance sheet that results in an economy benefiting Main Street, not Wall Street. Given that increases in the Fed Fund rate has resulted in a slowing economy, this meeting was timely and gave IFPTE, and labor overall, an important opportunity to express our views to Chairman Powell and his colleagues.”

In addition to Chairman Powell, the meeting was also attended by the four additional Federal Reserve Board Members

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RELATED:
12/6/2019 – Why You Should Care About the Federal Reserve - Damon Silvers, AFL-CIO Policy Director

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