• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 29th, Federal Reserve Chairman Warsh stated that political factors did not influence the Feds decision to maintain interest rates. Warsh said, "I spent two days upstairs with my colleagues. I didnt hear a single word about politics. I didnt hear anything about politics, the election, or anything thats going to happen in the next week or so." The U.S. midterm elections are scheduled for November 3rd. "I didnt hear any discussion about it at all, and I dont think it had any impact on the final decision, not only for me but also for my colleagues around me," he said.On October 29th, Wall Street magnate Peter Schiff stated, "Although the federal funds rate is too low to curb rising inflation, only two of the twelve FOMC members voted to raise rates. Even their supported 25 basis point increase seems insufficient and too late. Todays decision will cause inflation to exceed the Feds 2% target level further."On October 29th, Federal Reserve Chairman Warsh refuted the view that the Feds decision not to raise interest rates today might cast doubt on its commitment to combating inflation. He stated, "I can make it clear that we will never pursue an accommodative inflation target." He added that the full impact of inflation on consumers "has taken six years to fully materialize." He pointed out that consumers are feeling the pressure from rising fuel costs, and short-term inflation expectations are also rising. At the same time, he expressed confidence that households and businesses have faith in the Feds ability to maintain price stability.On October 29th, Federal Reserve Chairman Warsh dodged a question about whether current interest rates were appropriate. He stated, "There is a general consensus that our previous actions have begun to show some results." However, he added that no clear conclusion has yet been reached regarding whether further rate hikes are needed.Federal Reserve Chairman Warsh: The impact of the Feds (September) rate hike on the market was largely in line with expectations.

Analysis-Amazon Win Offers Unions Hope, But Problems Remain

Haiden Holmes

Apr 02, 2022 09:27

A2.png


The news on Friday that the United States' first-ever union would be joining the country's second-largest private employer ricocheted across labor organizations, as they started to see a road forward for enlisting employees and reversing decades of decline in their numbers.


Amazon now seems to be a more manageable target for them, albeit it remains a difficult one. Around 55% of votes cast at the Staten Island site went to the Amazon Labor Union (ALU), a newly formed organization led by former Amazon employee Christian Smalls.


The corporation said that it may submit objections and that regardless of whether or not the ALU's victory is formalized, it must still win a contract.


This may be as difficult as winning an election, according to Gregory DeFreitas, a Hofstra University professor of labor economics.


According to a federal document, Amazon spent more than $4 million on labor consultants in 2021 to attempt to convince employees.


"Amazon just has enormous resources for fighting unions and an enormous willingness to do whatever it takes to stay union-free," said John Logan, a San Francisco State University professor who researches anti-union operations.


Duplicating Amazon's success may be challenging. Local expertise and warehouse experience aided the ALU's leadership, which at times attempted to disassociate themselves from the efforts of national labor organizations.


"What succeeds are the leaders who employees know and trust," said Burt Flickinger, managing director of retail consultant Strategic Resource Group, who assisted several unions on organizing Amazon. Flickinger anticipates union organizing efforts to concentrate on more warehouses and Amazon-owned Whole Foods Market locations, noting that unions will need to rebuild depleted financial coffers in order to organize.


The victory in New York follows numerous previous victories at Starbucks coffee outlets. Additionally, it contributes to the perception that the labor movement is evolving. According to Joshua Freeman, a history professor at the CUNY School of Labor and Urban Studies, the ALU used creative organizing strategies, gaining momentum via social media.

The ALU solicited funds through a GoFundMe page.

Simultaneously, established unions are attempting to assist ALU leader Smalls. The Service Employees International Union (SEIU) is extending "any assistance we can," according to Mary Kay Henry, the union's president.

'SPREAD LIKE A BURNING FIRE'

On Friday, the renewed purpose was obvious among union leaders.


The Teamsters, who have been a stalwart opponent of Amazon's refusal to unionize one of its US locations for years, are continue their struggle "on the work floor, at the negotiating table, and on the streets," General President Sean O'Brien stated after the ALU's triumph.


At the SEIU's national headquarters, people cheered and leapt with excitement.


In an interview, Henry said, "This will spread like wildfire." "It's a great source of encouragement for employees opposing the five main airline businesses, for workers battling Starbucks."


Though not finalized, a lost union vote at Amazon's Bessemer, Alabama warehouse prompted some to fear that the ALU's triumph would be limited to labor-friendly states such as New York. That is not the case, according to Logan, the labor professor.


The next battleground will be on Staten Island this month at a second Amazon facility, but some of the company's food workers, as well as other employees and contractors, are mobilizing in Seattle.


"Suddenly, attempting to create a union at Amazon does not seem so pointless," Logan said, adding, "If you can win at Amazon, you can win elsewhere."