Union Official Becomes N.Y. Fed Chairman

08-24-2009 • Economic Policy Journal

Well it's not a ACORN, but pretty damn close, the Obama influence is clear with this choice. A top labor union leader, Denis Hughes, has become the chairman of the Federal Reserve Bank of New York’s Board of Directors. The New York Fed’s board comprises nine members, and is set up to reflect banking and community interests. Hughes has been on the board since 2003, but a union leader as New York Fed Chairman? Hughes is president of the 2.5 million member New York State AFL-CIO. According to the New York state AFL-CIO site: As President of the New York State AFL-CIO, Mr. Hughes has made creating a more mobile, active and aggressive statewide labor movement a top priority. He has set a tone for organizing new members into the movement and has led the way in developing proactive legislative and political statewide strategy. Hughes clearly doesn't understand basic supply and demand economics, since he "has been successful in helping to pass historic legislation that

1 Comments in Response to Union Official Becomes N.Y. Fed Chairman

Comment by foundZero

Entered on: 8/24/2009 1:09:05 PM

A union leader chairman of the NY Fed? Unbelievable.

Welcome to the Democrat-branded Fed. Hmmm....it's actually pretty smart. Make it partisan and kiss Democratic support for an audit gooodbye instantly and permanently.

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