Herman Cain eyed to fill vacancy on Federal Reserve Board

Jermaine Castillo
April 7, 2019

U.S. President Donald Trump plans to nominate Herman Cain, a former fast-food executive and Republican presidential candidate, for a seat on the board of the Federal Reserve, Reuters reported on April 4, citing an administration official. "He's a very, terrific man, terrific person".

"I find Herman to be an outstanding person", he added.

More seriously, Mr Cain has also faced multiple sexual harassment allegations. On March 22, the president said he would nominate Stephen Moore, a conservative columnist and pundit, to fill one of those seats.

Since taking office, Trump has reshaped the seven-member board, nominating four members to its ranks, including Fed chairman Jerome Powell.

Bloomberg previously reported in January that Trump was considering nominating Cain, the former CEO of Godfather's Pizza, to the board.

Missouri golfer Yuen finishes 72nd at Augusta Women's Amateur
The players all played a practice round at Augusta National on Friday with the top 30 players moving on to Saturday's final round. Sorenstam and Lopez admitted they were in tears before hitting their tee shots.

In a 2012 Wall Street Journal column, Cain argued that the Fed's policies had manipulated the value of the dollar.

In March, Trump has offered a Fed board seat to his former campaign adviser Stephen Moore, who recently published an opinion piece he co-authored on the Wall Street Journal, arguing that the Fed's tight-money policy is a threat to USA economic growth, which echoed the view of the president.

Cain's likely nomination drew criticism from Utah Republican Senator Mitt Romney. "If Herman Cain were on the Fed, you'd know the interest rate would soon be 9-9-9".

"With the 2020 election on the horizon, please become a Founding Member with America Fighting Back PAC by making a contribution of $25, $50, $100, $500, or even $1000 to help us take on all the D.C. forces out to get President Trump", the email said.

During his 2012 presidential campaign, Cain famously touted an economic plan, the "9-9-9 Plan", which would have replaced the USA tax system with a flat 9 percent business, income and national sales tax.

Elon Musk drops an auto-tune rap about 2016 meme Harambe
The SoundCloud name Emo G is a play on emoji, a callback to a Musk joke from earlier in the weekend. On his way out the door, Musk told reporters that he was "impressed" with Judge Nathan's analysis.

"Perhaps the bigger issue is that Cain has said - repeatedly - that the United States should return to the gold standard", she writes. He's a highly respected man.

Trump's other nominees have held views more in line with traditional selections for the Fed board. Moore is also a longtime Trump ally who has joined him in criticizing last year's rate hikes.

But Trump has grown increasingly unhappy with the Fed decisions under Powell, especially after the stock market tumbled previous year as the central bank was hiking rates four times.

Last month, Powell said the Fed would pause planned rate increases because the USA economy was slowing - and could continue to slow in part due to a prolonged Trump trade war with China.

Cain, whose Twitter feed continues to be chock full of partisan support for Trump and opposition to his Democratic rivals, did not respond to requests for comment.

Apple iPhone 2019 may come with two-way wireless charging, larger batteries
This means full control over your music and phone calls, regardless of whether you use the left, right or both earbuds. The Bloomberg report says that Amazon's new wireless earbuds will be available during the second half of 2019.

Other reports by

Discuss This Article