Journal Entry, Trans-Atlantic Agenda for Shared Prosperity

Written on Monday, February 11, 2013
Event at AFL-CIO, “Trans-Atlantic Agenda for Shared Prosperity” (Program)

IMG_1692Ms. Yellen, Vice Chair, Board of Governors of the Federal Reserve

In 2008, with the global financial crisis at its peak and the world teetering on the brink of a second Great Depression, world leaders and policymakers took decisive fiscal and monetary policy actions that bolstered our economies and stopped our financial system from spiraling into chaos and dragging our economies into depression.

AFL-CIO President Richard Trumka told the “Trans-Atlantic Agenda for Shared Prosperity” economic summit:

Our work is far from done, and no progress has been easy. We have had to battle those who wanted to block the fiscal stimulus, which was so critical for halting our economic slide. And we are still battling those same opponents who now want to impose strict fiscal austerity that threatens to sabotage our economy and trigger a new recession, as those same policies have in Europe.

The daylong Washington, D.C., summit, sponsored by the AFL-CIO, Friedrich Ebert Foundation (FES) and Macroeconomic Policy Institute (IMK) of the Hans Boeckler Foundation, was the first initiated conference by the groups to examine and promote fiscal policies that will promote economic recovery and growth and a path to full employment and shared prosperity.

Panel discussions throughout the day included leading academics and economists from MIT, Yale, University of Texas, Economic Policy Institute, Center for Economic and Policy Research, Center on Budget and Policy Priorities, Brookings Institution and several European foundations and think tanks.


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