The New York Federal Reserve will get an old school insider to replace a Goldman Sachs insider.
The chief executive of the nonprofit business organization Partnership for New York City, Kathryn Wylde, has been named a director on the New York Federal Reserve Bank’s Board.
The appointment fills the 18 months remaining on the three-year term of former Chairman Stephen Friedman, who resigned in early May amid accusations of conflict with his role at Goldman.
The Partnership for New York City was founded by David Rockefeller. The Partnership board includes Obama's "favorite banker" Jamie Dimon, former Goldman and Merrill man, John Thain and Rupert Murdoch.