Center for Popular Democracy — Fed Up Campaign 2015

Center for Popular Democracy
Award Date:
To support a campaign to educate the public and policymakers about monetary policy issues.

The Center for Popular Democracy is running a campaign (“Fed Up”) that aims to prevent premature tightening of monetary policy and encourage greater transparency and public engagement in the governance of the Federal Reserve. We previously contributed $100,000 to help the campaign get started.

While we remain uncertain about the campaign's prospects for making an impact, it has demonstrated some preliminary success during the last few months. Our best guess is that the campaign is unlikely to have an impact on the Fed's monetary policy, but that if it does, the benefits would be very large. Additionally, we see some value in the campaign's call for greater transparency and public engagement in the selection of regional Federal Reserve Bank leadership, and in enabling CPD to experiment with an advocacy campaign in macroeconomic policy.

Based on these considerations, we decided to grant an additional $750,000 to the Center for Popular Democracy to support the Fed Up campaign. We anticipate that this grant will make up roughly 75% of the campaign's overall funding for the year.

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