To: Federal Reserve Board of Governors
Tell the Fed: America needs more jobs
We demand you reject the arm-twisting of the Wall Street bankers and their wealth hoarder allies and keep interest rates low and the money supply high until our recovery starts to help struggling families, not just corporate profits and banker bonuses.
Why is this important?
If you listen to the Wall Street bankers, our economy is blazing away. Of course they’d think so: corporations are making record profits and bankers are swimming in record bonuses.
But we know that the economy is not working for the rest of us -- who of us has not been affected by job losses, foreclosed homes, or credit card and student debt?
So, the question is: how can we spread the wealth?
It turns out there is one institution that has the power to help stop our economy from providing such radically different results to the wealth hoarders on the one hand and the rest of us on the other. That institution is the Federal Reserve.
No single institution has more influence over our economy than the Fed. It sets interest rates and determines the amount of money in circulation. Making decisions on those two critical issues has a profound impact on who wins and who loses in our economy.
Here’s what’s going on: Wall Street creditors and their allies at the Fed are saying that dropping unemployment numbers mean it’s time to start raising interest rates in order to “prevent inflation.”
But those numbers are dropping because people are no longer looking for work, not because the economy is improving. The real reason is so they can make more money off of our debt: mortgages, credit cards, student loans and all the rest.
Wall Street is rolling in money from our misfortunes. For the rest of us, not only does our debt cost more, but higher interest rates stop businesses from hiring and investing and keep growing families from buying new homes.
Right now, Wall Street bankers are fighting as hard as they can to win. And when they win, the rest of us lose.
Help us stop Wall Street bankers and other wealth hoarders from forcing us back into recession.
If we stand up and fight back, then we will take a step towards an economy that works for all of us. Make your voice heard. Sign the petition.