Janet Yellen Comes Out Swinging at Congress for Being Heartless


Theme:– Operation J.U.M.P. For Jobs, Justice & Unsung Dreams

Federal Reserves’ Chairman Ben Bernanke announced some time ago that he’ll step down in January at the end of his current term. He took the job during the Bush Administration and was kept on by President Obama. The nominee to replace him, Janet Yellen, came out swinging at Congress for being heartless.

She testified last week at Senate confirmation hearings. Yellen, if confirmed, would become the first woman in that role. While she might have her eyes set on stepping into the job, she’s clearly not backing down on stepping into the fire. Yellen feels the economic recovery has been hampered by the Sequester.

She’s also shining the light on the rise in income inequality. The top one-percent has seen tremendous increases in income while the bottom 20-percent struggle to stay afloat. This might point to social roadblocks and policy decisions akin to the racial inequality that some experienced from cradle to grave.

Back in those days (not long ago) the concern was removing barriers to employment that some groups faced. Our history shows how they received “leftover” jobs or low-grade work assignments. So, the powers-that-be took steps to address the apparent “reoccurring oversight” that was found in the system.

If Yellen becomes the next Feds sheriff in town, it might truly mean we need affirmative action for all on job market inequality. Maybe workers below the C-Suite or High Street need to have some of the same protections and options as those above. This way the game can be played on more transparent terms.

Footnote: Operation J.U.M.P. includes an economic justice component that can bring together the money-changers on High Street and the game-changers on Low Street to exchange notes on embracing equal protections and options for job market progress.