Inflationists confront Fed leaders to warn against rate hike

The Hill reports:

Liberal activists are descending upon a global economic conference in Jackson Hole, Wyo., to criticize Federal Reserve officials for adopting an "insane" economic agenda that doesn't benefit minorities.

The liberal Center for Popular Democracy has launched a "Fed Up" campaign to urge the central bank’s chairwoman, Janet Yellen, and her team of policymakers against raising interest rates.

Many Fed watchers anticipate Yellen and her team to increase the interest rate, lowered to zero percent following the 2008 economic crisis to spur economic growth as soon as September, citing steady growth.

But the campaign, whose board includes members of the AFL-CIO and Service Employees International Union (SEIU), says that the economy hasn't recovered enough to adopt such a policy.

"The economy remains far too weak to slow it down. We shouldn't mince words — when the Fed raises interest rates, it's doing that to slow the economy down," said Ady Barkan, Fed Up campaign director, on a conference call with reporters.

Inflationists want more.