UPDATE: Trump confirms he'll be nominating Herman Cain to the Fed
WASHINGTON – President Donald Trump said Thursday he will name former Republican presidential candidate Herman Cain for the Federal Reserve board, the latest indication that the president hopes to significantly alter the central bank's direction.
The Fed, an independent board whose members are appointed by the president, raises interest rates to cool down a hot economy and cuts them to stimulate a sluggish one. The rates affect how much it costs to use a credit card, sign a car loan or buy a home. "Despite the unnecessary and destructive actions taken by the Fed,” Trump wrote on Twitter on Thursday, “the Economy is looking very strong."
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Trump recommending Herman Cain for Federal Reserve BoardNEW: President Trump is considering naming Herman Cain, a former pizza company executive and 2012 Republican presidential candidate, to the Federal Reserve Board, according to two sources familiar with the matter.
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Trump Selects Herman Cain for Federal Reserve Board, Sources SayTrump plans to announce his selection very soon, said three people, who asked not be identified discussing the nomination because it hasn’t been announced. In Cain and Moore, Trump would place two political loyalists on the board of a central bank that has frequently crossed him.
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Trump considering Herman Cain for Federal Reserve BoardNEW: President Trump is considering naming Herman Cain, a former pizza company executive and 2012 Republican presidential candidate, to the Federal Reserve Board, according to two sources familiar with the matter.
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Romney dings Herman Cain for Trump’s FedThe Utah Republican also said he’s still ‘evaluating‘ Trump’s pick of Stephen Moore for the central bank.
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Trump is said to pick Herman Cain for Fed seat as a counterweight to PowellPresident Trump intends to nominate Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, for a seat on the Federal Reserve Board, according to people familiar with the matter.
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Trump ready to move ahead with Herman Cain pick for the FedPresident Donald Trump is just about ready to submit Cain's name to the Senate.
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Trump set to appoint Herman Cain to Fed, pending clearance check: reportPresident Donald Trump has decided to appoint former Republican presidential candidate Herman Cain to a seat on the Federal Reserve Board, according to a...
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Trump’s possible pick of Cain to Fed indicates fury at last year’s rate hikesTrump has reportedly decided to appoint former Republican presidential candidate Herman Cain to a seat on the Federal Reserve Board, according to a new report
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