Labor union chief to chair New York Fed

Crain's New York Business reports:

The Federal Reserve Bank of New York has named a top state labor union official its chairman, the bank announced Monday.

Denis M. Hughes, president of the New York State AFL-CIO, has been deputy chairman since January 2007. He became acting chairman in May after the surprise resignation of Stephen Friedman. News reports had raised questions about Mr. Friedman's ties to Goldman Sachs Group Inc.

A perfect fit for the pro-inflation Fed.