Trump wants Fed to keep interest rate low

Andrew Cummings
April 10, 2019

Criticism of the pair for being insufficiently qualified or too partisan for the independent central bank is "unfair", Larry Kudlow, head of the National Economic Council, said Sunday on CNN's "State of the Union".

But nominating Cain, the former CEO of Godfather's Pizza, to the board also raises the possibility of Capitol Hill testimonies regarding sexual harassment allegations against Cain, which ultimately derailed his 2011 bid for the Republican presidential nomination.

If nominated and approved, Moore and Cain would fill the two remaining vacancies on the Fed's seven-member board.

After months of rumors, Trump on Thursday confirmed that he is recommending Cain for a Federal Reserve Board seat.

Hassett said that potential candidates should be given privacy and time to work potential conflicts out with the Office of Government Ethics and provide as much information as possible to ensure that the Senate can have a "fact-based debate" once the formal nominations are submitted.

"I find Herman to be an outstanding person, a truly outstanding individual", Trump continued.

"I think some of the old-school thinking and a number of the old econometric models in the central bank could use a little fresh air, a bit different view", Kudlow stated.

"Would I be disappointed if I don't make it through this process?" he said. "No".

Responding on "America's Newsroom", Asman said one report labeled Cain as simply "the pizza man".

Mr. Trump has been highly critical of his handpicked Fed chairman, Jerome Powell, after a series of interest rate increases and other actions a year ago that Mr. Trump feels have held back an economy that would be otherwise growing like a "rocket ship". "The president has every right in the world to nominate people who share his economic philosophy". "We believe more people working and succeeding does not cause inflation".

"We are going through a vetting process in the White House. They don't necessarily pan out". "I'm not going to litigate that here".

Cain said it's possible he would not make it through a nomination process.

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