Daily Digest - May 8: More Questions Than Answers for the Federal Reserve

May 8, 2014Rachel Goldfarb

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Bernie Sanders Asks Fed Chair Whether the US Is an Oligarchy (The Nation)

John Nichols says Yellen did not directly answer the senator's question, but she expressed concerns about growing inequality and how it shapes participation in democracy.

Yellen Won’t Be Pinned Down on Plans (NYT)

During her testimony to Congress yesterday, the Federal Reserve chair avoided giving specific timetables for Fed policy even when pressed, reports Binyamin Appelbaum.

  • Roosevelt Take: Before she became Fed chair, Roosevelt Institute Fellow Mike Konczal praised Yellen for her work leading the way on monetary policy.

Seattle's $15 Minimum Wage Agreement: Collective Bargaining Reborn? (TAP)

Harold Meyerson suggests that the Seattle minimum wage plan could create a new model for collective bargaining outside of unions that still involves businesses and labor groups.

Largest Fast Food Strike Yet Will Include Rallies on 6 Continents (MSNBC)

The fast food workers movement continues to grow, reports Ned Resnikoff, with strikes planned on May 15 in 150 cities nationally and solidarity rallies planned abroad.

  • Roosevelt Take: Harmony Goldberg, the Program Manager for the Roosevelt Institute's Future of Work Initiative, looks at another major issue facing fast food workers: wage theft.

Welfare Photos Shame Shoppers as States Target Abuses (Bloomberg)

Mark Niquette writes that photos on benefit cards may be meant to stop fraud, but they're increasing costs and potentially dissuading people from getting the benefits they need.

Lies, Lives and Obamacare Statistics (U.S. News & World Report)

The simple fact that the GOP ignores about Obamacare is that access to health insurance actually saves lives, says Pat Garofalo. That fact makes repeal hard to swallow.

Even Millionaires Think The Rich Should Pay Higher Taxes (HuffPo)

Robert Frank reports on a CNBC survey of millionaires, which shows that they agree that inequality is a problem, though their proposed solutions split along party lines.

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