Mum on Senate support for Herman Cain for Fed

Mum on Senate support for Herman Cain for Fed

"With Republicans controlling the Senate 53-47, it would take opposition from just four GOP senators to sink the nomination, presuming all Democrats will also be" no" votes. Cain declined comment on the report. Senate Majority Leader Mitch McConnell withheld comment on Thursday on whether he would support Cain, saying he would wait to see "who is actually nominated". But Trump has publicly announced his intention to do so despite objections from Democrats and some Republicans questioning the men's academic and professional qualifications.

Trump told reporters that it would be Cain's decision for now as to whether his nomination should remain intact. Cain's 2012 presidential run is most remembered for his "9-9-9" tax plan and his advocacy of a return to the gold standard; the campaign fizzled out after multiple sexual harassment allegations. It plays a major role in setting the direction of the economy, and Trump has blamed Fed Chair Jerome H. Powell for raising interest rates previous year in a way that the White House alleges damaged the economy.

Federal Reserve Chairman Jerome Powell asserted the central bank's independence in remarks to Democratic lawmakers, telling them the Fed doesn't consider political pressure in any way, according to two people in the room for the closed-door event.

Cain served in a variety of Federal Reserve roles in Kansas City between 1989 and 1996.

"I've recommended Herman Cain".

Moore signaled in a Bloomberg Television interview on Thursday that he wants to challenge some tenets of central banking if he's confirmed by the Senate to be a Fed governor. Cain said in a video posted on Facebook (NASDAQ:) on Friday that he faced a "cumbersome" vetting process for the Fed seat, suggesting he may be considering withdrawing. Cain, 73, has called the allegations unfounded.

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Moore is a conservative commentator and another Trump political ally.

PHOTO: President Donald Trump listens to South Korean President Moon Jae-in speak during a meeting in the Oval Office of the White House, Thursday, April 11, 2019, in Washington. One is a background check and the other is the likelihood of confirmability.

When asked whether he was surprised by Trump's consideration of Cain for the Fed, McConnell responded: "Surprised?"

Moore, and fellow Trump nominee Herman Cain, a former restaurant chain executive, are battling for the two vacant seats on the Fed's Board of Governors, positions that would give them a say for years on interest-rate policy and bank regulation.

Recently, America Fighting Back criticized the 12 GOP senators who voted to reject the president's national emergency declaration to begin border wall construction.

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