Free Republic

Monetary Policy: The renomination of Fed chief Ben Bernanke to a second term came as no big surprise. The same can't be said for the naming of a union activist as head of the New York Federal Reserve.Denis Hughes, president of the AFL-CIO in New York, has served as interim head of the New York Fed board since May. His ascent to one of the world's most important financial posts is another troubling sign of this administration's too-tight embrace of organized labor. Understand, this is a time of great financial peril. That's the main reason why Bernanke was renominated. The...

Fresh on the heels of rumors that former union hatchet man Ron Bloom may become "czar" of US manufacturing policy, the AFL-CIO is crowing about the appointment of one of their own to run the most powerful regional Federal Reserve bank. Former electricians union boss Denis Hughes, top dog in a state where a forced unionism stanglehold has crushed the economy and employee freedom, has just been named chairman of New York's powerful financial oversight board: Denis Hughes, president of the New York State AFL-CIO, was named chairman of the powerful Federal Reserve Bank of New York today. -- Hughes,...

The Federal Reserve chose a labor leader to succeed a former Goldman Sachs executive as the chairman of the Federal Reserve Board of New York's private-sector board of directors. Denis Hughes, president of the New York state branch of the AFL-CIO, had been serving as acting chairman of the New York Fed board since May, when Stephen Friedman stepped down from the position.

The Federal Reserve chose a labor leader to succeed a former Goldman Sachs executive as the chairman of the Federal Reserve Board of New York's private-sector board of directors. Columbia University President Lee Bollinger, shown in July, was named deputy chairman of the New York Fed. Denis Hughes, president of the New York state branch of the AFL-CIO, had been serving as acting chairman of the New York Fed board since May, when Stephen Friedman stepped down from the position. Mr. Friedman, a former Goldman Sachs Group Inc. chairman and adviser to President George W. Bush, had faced questions about...

By Greg Robb, MarketWatch WASHINGTON (MarketWatch) -- A labor leader has moved into a high-profile position as chairman at a regional Federal Reserve bank. The Federal Reserve Board of Governors in Washington has selected Denis Hughes, president of the New York State AFL-CIO, to serve as chairman of the Federal Reserve Bank of New York until the end of the year, the New York Fed announced Monday. Hughes is the first labor leader to head the New York Fed. A spokesman at the AFL-CIO office said Hughes was not taking questions.

By Michael Corkery Is organized labor gaining power in the U.S. or are its leaders being co-opted by the federal government and corporate America? The question is at the heart of today’s appointment of Denis Hughes, the New York state AFL-CIO president, as chairman of the Federal Reserve Bank of New York. It is believed to be the first time that a union boss has been named chairman of a Federal Reserve bank. While Hughes has served as a N.Y. Fed director since 2004 and currently is the bank’s acting chairman, the appointment still carries symbolic importance. Hughes will sit...

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...

New York—The Federal Reserve Bank of New York announced today that Denis M. Hughes has been designated chairman of the New York Fed’s board of directors by the Board of Governors of the Federal Reserve System for the remainder of 2009. Mr. Hughes is president of the New York State AFL-CIO and has served as a Class C director since January 2006. He has served as deputy chairman since January 2007 and as acting chairman since May. He joined the board as a Class B director in January 2004. The Board of Governors of the Federal Reserve System has designated...