jct74
02-01-2019, 11:08 AM
Trump Considering Herman Cain for Federal Reserve Board, Sources Say
By Jennifer Jacobs
January 31, 2019
Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, is being considered by President Donald Trump for a seat on the Federal Reserve Board.
Cain, 73, was in the White House on Wednesday, according to people familiar with the matter. Two seats on the Fed board are vacant, but nominating Cain raises the prospect of a Senate confirmation hearing focused on the sexual harassment and infidelity accusations that ended his presidential campaign.
The people asked not to be identified discussing Trump’s private deliberations. Cain was also under consideration for other unspecified senior government posts, they said.
The president’s top economic adviser, Larry Kudlow, said last week that the White House wants Fed governors “who understand that you can have strong economic growth without higher inflation.”
Cain in September co-founded a pro-Trump super PAC, 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.”
Cain had a long corporate career and is also familiar with the Federal Reserve system. From 1992 to 1996, he served as a director of the Federal Reserve Bank of Kansas City, as well as deputy chairman and then chairman. He advocated for the U.S. to return to the gold standard during his presidential campaign and as recently as December 2017 defended higher interest rates, a position that contrasts with Trump’s repeated criticisms of the Fed last year.
...
read more:
https://www.bloomberg.com/news/articles/2019-01-31/trump-is-said-to-consider-herman-cain-for-federal-reserve-board
By Jennifer Jacobs
January 31, 2019
Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, is being considered by President Donald Trump for a seat on the Federal Reserve Board.
Cain, 73, was in the White House on Wednesday, according to people familiar with the matter. Two seats on the Fed board are vacant, but nominating Cain raises the prospect of a Senate confirmation hearing focused on the sexual harassment and infidelity accusations that ended his presidential campaign.
The people asked not to be identified discussing Trump’s private deliberations. Cain was also under consideration for other unspecified senior government posts, they said.
The president’s top economic adviser, Larry Kudlow, said last week that the White House wants Fed governors “who understand that you can have strong economic growth without higher inflation.”
Cain in September co-founded a pro-Trump super PAC, 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.”
Cain had a long corporate career and is also familiar with the Federal Reserve system. From 1992 to 1996, he served as a director of the Federal Reserve Bank of Kansas City, as well as deputy chairman and then chairman. He advocated for the U.S. to return to the gold standard during his presidential campaign and as recently as December 2017 defended higher interest rates, a position that contrasts with Trump’s repeated criticisms of the Fed last year.
...
read more:
https://www.bloomberg.com/news/articles/2019-01-31/trump-is-said-to-consider-herman-cain-for-federal-reserve-board