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Thu Apr 4, 2019, 12:43 PM

Scoop: Trump expected to name Herman Cain to Federal Reserve board

President Trump has told confidants he wants Herman Cain on the Federal Reserve board, but will wait until his background check is completed before making the formal announcement, according to two senior administration officials familiar with the decision.

Why it matters: It's likely confirmation that Trump is ready to move ahead with the former presidential candidate, whose possible nomination was reported by Bloomberg in January. "He won't formally announce until the vet is completed ... But he likes Cain and wants to put him on there," said a senior official who has discussed the matter with the president.
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Between the lines: As with any Trump "decision," administration officials are quick to attach an asterisk. This time, their hesitation is less about Trump changing his mind than about something coming up in Cain's background check that could complicate the situation.

The administration did not conduct a thorough vetting of Trump's most recent Fed pick, Stephen Moore, and they've had to weather stories about back taxes owed by Moore and that he had failed to pay alimony to his ex-wife. Moore told the New York Times earlier this week that "it's full speed ahead" and said that the White House was "100%" behind him.

https://www.axios.com/trump-wants-herman-cain-federal-reserve-4b497361-d12a-4c5a-a2db-28ffe1d36b58.html?utm_source=twitter&utm_medium=twsocialshare&utm_campaign=organic


Repost from locked LBN thread.

20 replies, 1024 views

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Arrow 20 replies Author Time Post
Reply Scoop: Trump expected to name Herman Cain to Federal Reserve board (Original post)
demmiblue Apr 2019 OP
kysrsoze Apr 2019 #1
Buckeyeblue Apr 2019 #4
Demsrule86 Apr 2019 #6
Gothmog Apr 2019 #14
Demsrule86 Apr 2019 #15
underpants Apr 2019 #2
demmiblue Apr 2019 #12
demmiblue Apr 2019 #3
Maru Kitteh Apr 2019 #5
BootinUp Apr 2019 #7
Docreed2003 Apr 2019 #8
underpants Apr 2019 #17
TheBlackAdder Apr 2019 #9
lame54 Apr 2019 #10
kentuck Apr 2019 #11
Gothmog Apr 2019 #13
Yo_Mama_Been_Loggin Apr 2019 #19
Azathoth Apr 2019 #16
Yo_Mama_Been_Loggin Apr 2019 #18
madinmaryland Apr 2019 #20

Response to demmiblue (Original post)

Thu Apr 4, 2019, 12:49 PM

1. OMG. Is this worse than Stephen Moore? I'm not sure.😬

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Response to kysrsoze (Reply #1)

Thu Apr 4, 2019, 12:57 PM

4. It's bad in that he is not an economist

What economic theory does he operate under? Does he understand indicators of inflation. Being a former CEO, is he going to look to drive down rates at all costs? That seems to be what 45 wants.

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Response to kysrsoze (Reply #1)

Thu Apr 4, 2019, 01:06 PM

6. Hermain Cain is completely unqualified.

He owned a pizza chain which he supposedly saved and has been on rightwing radio forever in Atlanta...I used to live in Georgia...he ran for stuff but didn't win.

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Response to Demsrule86 (Reply #6)

Thu Apr 4, 2019, 02:56 PM

14. Cain makes Moore look qualify

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Response to kysrsoze (Reply #1)

Thu Apr 4, 2019, 02:58 PM

15. Yes talk radio guy who owned a pizza chain

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 12:53 PM

2. 9-9-9

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Response to underpants (Reply #2)

Thu Apr 4, 2019, 01:43 PM

12. ...

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 12:55 PM

3. Trump selects Herman Cain for Federal Reserve Board, sources say

(Bloomberg) -- President Donald Trump intends to nominate Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, for a seat on the Federal Reserve Board, according to people familiar with the matter.

Trump plans to announce his selection very soon, said three people, who asked not be identified discussing the nomination because it hasn’t been announced. Cain would fill one of two open seats on the board; the president plans to name Stephen Moore, a visiting fellow at the Heritage Foundation and a long-time Trump supporter, for the other.

In Cain and Moore, Trump would place two political loyalists on the board of a central bank that has frequently crossed him. The president has repeatedly attacked Federal Reserve Chairman Jerome Powell for raising interest rates, and Bloomberg News reported in December that Trump had even discussed firing him. One way the president can directly influence monetary policy is through nominations to the Fed board, though anyone he picks must be confirmed by the Senate.

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.”

...

Axios reported earlier Thursday that Trump was expected to announce his selection of Cain as soon as a background check was completed. Bloomberg reported in January that Trump was close to choosing Cain for the job.

https://www.bostonglobe.com/business/2019/04/04/trump-selects-herman-cain-for-federal-reserve-board-sources-say/SrA538sAjOByd5aLDWDJSM/story.html?s_campaign=bostonglobe%3Asocialflow%3Atwitter

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:03 PM

5. So he gets an ignorant lap-dog who will do what he says AND he gets to claim "diversity."

Makes perfect sense.

Plus, Trump probably really likes Cain's savvy knack for marketing.

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:21 PM

7. Holy moly. Nt

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:21 PM

8. Lmmfao...you just can't make this shit up

Unqualified businessman president nominated unqualified businessman former-presidential candidate for role he has no business being nominated for...

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Response to Docreed2003 (Reply #8)

Thu Apr 4, 2019, 03:16 PM

17. Maybe he can splurge for a pizza at the meetings

Just saying.

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:33 PM

9. Nein! Nein! Nein! Say it isn't so!

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:37 PM

10. Fucky-Ducky this is so ridiculous

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 01:41 PM

11. The Scriptures say:

Keep company with the wise and you will become wise. If you make friends with stupid people, you will be ruined.

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 02:45 PM

13. Prof. Krugman-Meanwhile, I didn't think Trump could do worse than Stephen Moore for the Fed.

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Response to Gothmog (Reply #13)

Thu Apr 4, 2019, 03:35 PM

19. No kidding

They ask Trump how bad can you get and he says "Hold ma beer."

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 02:59 PM

16. This is just vandalism, pure and simple

It's the child smashing his parents' things and torturing the family dog, just because he can.

Repairing this clown's mess is gonna take a long time.

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Response to demmiblue (Original post)

Thu Apr 4, 2019, 03:34 PM

18. A guy who ran a chain that served 2nd rate pizza?

What's next? Vinny the local mechanic who used to work on his car as Secretary of Transportation?

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Response to Yo_Mama_Been_Loggin (Reply #18)

Thu Apr 4, 2019, 05:30 PM

20. I think he may pardon Bernie Madoff and make him secretary of treasury

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