Friday, 19 April, 2019

Herman Cain expected to withdraw from Fed Reserve Board of Governors consideration

House Speaker Nancy Pelosi speaks in her office at the Capitol in Washington on Wednesday House Speaker Nancy Pelosi speaks in her office at the Capitol in Washington on Wednesday
Ginger Lawrence | 14 April, 2019, 20:13

"I think he's going to turn into a good Fed chairman".

The strikes on the Fed of trump hastened past year as the central bank increased rates.

Warren, a Democrat who is running to challenge Trump in the 2020 election, said Moore had "a long history of making wildly inaccurate claims about economic policy that appear to serve political ends".

Faced with the prospect of attempting to confirm two absurdly unqualified cranks for esteemed Fed positions, the conservative movement has undertaken a triage operation, focusing its defenses on Moore and leaving Cain to twist in the wind.

Last week, TheGrio reported that President Trump told reporters he would nominate Cain for the role and that he referred to cain as a highly respected man.

"The Fed is an independent agency", she said.

AB de Villiers aims to be an example to South African youth
Meanwhile, in the day's other match, England vice-captain Jos Buttler smashed 89 off 43 as Rajasthan Royals secured a four-wicket win against Mumbai Indians in Mumbai.

Four Senate Republicans were on record on Thursday as opposing Donald Trump's planned choice of former pizza executive Herman Cain to join the US Federal Reserve, essentially scuppering his confirmation before the president officially nominates him.

Fed officials continue to deny that Trump's tweets and criticisms are having any impact on monetary policy.

During his first 18 months in office, Trump relied on Treasury Secretary Steven Mnuchin and other economic advisers to pick Fed nominees, but he has wrested control of the process in recent months after blaming Mnuchin for steering him towards Jerome Powell as Fed chairman. Trump himself has taken a nontraditional approach to the Fed, repeatedly accusing it of mismanaging the economy by not pushing hard enough for low interest rates. "We have a very clear in black-and-white mandate assigned to us. which is maximum employment and price stability", not maximizing the growth rate of gross domestic product, he said. The nominations must be approved by the Senate.

At a speaking event, Kudlow also said the White House is sticking by Herman Cain as a candidate for a Federal Reserve Board seat at the moment.

Moore, for example, said in a Bloomberg interview that he felt Fed meetings should be televised - a likely non-starter for an organization that publishes minutes of its meetings three weeks after the fact and holds regular news conferences but feels a camera in the room would inhibit free discussion.