The Federal Reserve's moral imperative

Will the Fed do the right thing?

The Fed are being urged to get their priorities in order.
(Image credit: Ikon Images / Alamy Stock Photo)

The Federal Reserve is usually understood as the bankers' bank. But what if it was the people's bank?

At the Fed's annual Jackson Hole conference last week, an assortment of community organizers, activists, labor organizations, and economists showed up to push America's most important financial institution towards putting the concerns of working and nonwhite Americans at the center of monetary policy. The group, called Fed Up, has met with Federal Reserve officials before, but Thursday's meeting was nonetheless unprecedented and striking — both for being on the record, and for the detailed, impassioned, occasionally heated, and remarkably pointed conversation that resulted.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.