Published: Пн, Апреля 15, 2019
Business | By Eloise Houston

Trump calls Federal Reserve to cut interest rates

Trump calls Federal Reserve to cut interest rates

At a speaking event, Kudlow also said the White House is sticking by Herman Cain as a candidate for a Federal Reserve Board seat at the moment. Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a unsafe thing for an economy when the central bank of a country has. political influence".

When asked by reporters on Wednesday if Cain's nomination is safe, Trump suggested Cain will decide if he steps aside.

Cain ran for president in the 2012 GOP primary, but lost momentum amid accusations of sexual harassment and misconduct, among other things.

Cain, a former CEO of Godfather's Pizza, ran for the 2012 Republican presidential nomination but fell out after allegations of infidelity and sexual harassment.

"When I saw Trump's tweet, the feeling I had is that it increases the odds the Fed tightens this week to assert their independence", said Carl Tannenbaum, chief economist at Northern Trust and a former Fed economist.

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

Booth also thinks there is a high risk for Trump in nominating Cain versus Moore, even though both candidates share the president's view on lowering interest rates.

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"I've recommended Herman Cain". Trump himself has taken a nontraditional approach to the Fed, repeatedly accusing it of mismanaging the economy by not pushing hard enough for low interest rates.

"I think having someone with business experience on the Fed would be a real breath of fresh air", Moore said. At the meeting, which was held in the White House Situation Room, an aide passed Trump a note informing him that Cain was in the building.

Pelosi then praised Powell, who was nominated by Trump in 2017 and confirmed early previous year by the Senate.

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. "I think he's going to turn into a good Fed chairman".

But he stressed that the White House needs to consider two factors in its nominations: the individual's background check, as well as his or her prospects of getting confirmed in the Senate.

Concerns about the Fed's independence have been exacerbated by Trump's announcement that he plans to nominate two political loyalists, businessman Herman Cain and conservative Stephen Moore, to the board, House Speaker Nancy Pelosi said.

But he has already garnered support among a number of leading GOP senators, including those who are no on Cain.

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