White House's Kudlow Supports Fed's Powell and Cain Nomination

White House's Kudlow Supports Fed's Powell and Cain Nomination

Cain's 2012 presidential run is most remembered for his "9-9-9" tax plan and his advocacy of a return to the gold standard; the campaign fizzled out after multiple sexual harassment allegations. Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a risky thing for an economy when the central bank of a country has. political influence".

Mr Trump has had tense relations with the nation's central bank for months, as he urges a lowering of interest rates and taps unconventional loyalists like Mr Cain to fill empty seats on the Fed Reserve board.

Pelosi went on to accuse Trump of seeking to undermine the Fed's independent role in setting the nation's monetary policy, responding to a question about public comments from Vice President Pence about how Moore and Cain share Trump's views on keeping interest rates low. The Fed also said it intends to end the runoff of its balance sheet at the end of September.

ABC News has reached out to Cain for response.

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"So, I want to play something for you", she said.

In recent days Trump tried to take a slightly softer tone, telling Fed Monday leaders to "Take the victory!" of a solidly growing economy with "virtually no inflation" and not ruin all the good by raising interest rates. However, Moore did say he favored a system where US currency is based on a "whole basket of commodities".

"Does that mean meddling in the decisions of the Fed?" The real problem here is that Moore and Cain are "transparently partisan" hacks. "The likelihood is that they will be withdrawn. We also know that moving too slowly - keeping interest rates too low for too long - could risk other distortions in the form of higher inflation or destabilizing financial imbalances", Powell said on November 28. Burns caved, Nixon won, and inflation soared to double digits.

We'll now have to see if Trump follows up with another poorly qualified media figure, or lets Moore stand alone as a testament to his belief that talking on television is the only relevant qualification for any position, from president on down. "Brusuelas expects the Fed will stay on hold" probably through 2020". Not so he could "please his political patrons" but because he knew it was right.

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