What Trump Can (And Can't) Do to Steer Federal Reserve Policy

Earlier Thursday, House Speaker Nancy Pelosi said elevating Cain and Moore to the Fed would risk politicizing the nation's central bank and endangering the economy.

Four senators from United States president Donald Trump's Republican party have said they would vote against one of his potential nominees for the Federal Reserve Board, Herman Cain.

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.

Some argue that the only impact Trump is having on the Fed is to make the central bank more likely to hike since the Fed doesn't want to appear to have lost its independence from politics.

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.

Cain, who was previously CEO of Godfather's Pizza, has denied the allegations and this past weekend posted a video to Facebook again vowing to fight them.

President Donald Trump says he is advocated Herman Cain, a political director and former Republican candidate.

Some Senate Republicans have voiced concerns over Cain's support for slashing interest rates, echoing a call by Trump.

THE International Monetary Fund (IMF) warned of "dangerous" consequences for the U.S. economy if moves such as President Donald Trump's calls for Federal Reserve interest-rate accommodation lead to monetary policy mistakes.

"I've recommended Herman Cain".

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

AGF Chief U.S. policy strategist Greg Valliere also told FOX Business he thinks all of this talk about the Fed losing its independence is "overdone".

"I'm going to come with the idea - challenge one fundamental idea that I think is endemic at the Fed, which I think is completely wrong, which is that growth causes inflation". Citing several sources, the report said Cain was bowing amid growing protests from Senate Republicans who object to his potential nomination. Last week he tweeted his intention to name the former presidential hopeful, who heads a political action committee supporting Trump's agenda.

Senate Majority Leader Mitch McConnell on Thursday declined to comment about whether he would personally support the nomination of either Cain or Trump's other pick, Stephen Moore, saying neither of Trump's choices has been formally sent to the Senate.

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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