Tuesday, 23 July, 2019

Trump Wants to Name Political Loyalists to Federal Reserve Board

Trump Picks Herman Cain for Fed as New Powell Counterweight Sources SayMore Trump Picks Herman Cain for Fed as New Powell Counterweight Sources SayMore
Russell Knight | 07 April, 2019, 03:45

The White House did not immediately respond to a request for comment on the reports. "I think personally he'd be a great addition". Cain served in various positions in the Kansas City Federal Reserve in the 1990s and as CEO of the Godfather's Pizza chain. Moore's nomination has encountered criticism that he is unqualified and too politically focused for a Fed board seat.

Axios also earlier reported Trump has made a decision to choose Cain to fill one of two vacancies on the seven-member Fed board.

Axios reported that Trump has "told confidants" that he wants Cain on the Fed, pending a background check.

The U.S. central bank has two vacant seats on its board of governors.

"I've recommended Herman Cain". Utah GOP Sen. Mitt Romney, who competed against Cain for the Republican nomination and ultimately won the GOP nod, seemed to scoff at the idea that Cain would be Mr. Trump's pick. The vocal Trump supporter since the 2016 presidential election has been a longtime critic of the Fed.

Cain in September co-founded a pro-Trump super-political action committee, America Fighting Back PAC, which features a photo of the president on its website and says: "We must protect Donald Trump and his agenda from impeachment". During his 2011 presidential campaign, he advocated a return to the gold standard, and put forward his "9-9-9" proposal, in which he suggested replacing all taxes with a flat tax of 9 per cent on business and incomes alongside a 9 per cent national sales tax.

Real Madrid: If Zidane wants me to leave, I will - Navas
Barcelona hosts Atletico on Saturday. "They kept the ball but didn't create many significant scoring opportunities", Garay said. Real Madrid coach Zinedine Zidane backed Marcelo despite criticism of the left-back's performances this season.

Iran FM says Europe incapable of bypassing US sanctions
That would remove Italy, Greece and Taiwan from the waivers list. "That, I think, is where we " re headed", the official said. President Donald Trump and North Korean leader Kim Jong-un have met twice in the past year to discuss denuclearization.

Leaked Renders of New Motorola Phone With Four Cameras Spotted
There is a possibility that Motorola will launch an entirely new line-up with this device which we have not heard about yet. Despite being an entry-level device, the Moto P40 Play can be seen sporting a waterdrop notch design and dual rear cameras.

Brown said the February 5 fundraising email was likely approved before Cain's meeting with Trump, after which "he immediately ceased his efforts".

Two previous and more orthodox Trump nominees, Nellie Liang and Marvin Goodfriend, were rejected by Congress past year.

The President reportedly blamed Powell during meetings with Republican senators and staffers that if it hadn't been for a string of rate increases by the Fed last year's stocks would have risen higher and the budget deficit would not have widened as much, according to the Journal.

The President has blasted the central bank for going "loco" for raising rates four times a year ago.

Even with that change, Trump has continued to be critical. Kudlow last week called for the Fed not only to pause rate hikes but to cut rates by a steep one-half percentage point and said the president believed that was the best course of action.

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