President Donald Trump on Monday urged the Federal Reserve not to raise interest rates, but Fed officials are widely expected to do so this week despite the president's ongoing public effort to dissuade the US central bank from putting any brakes on the economy. Kevin Cramer, R-N.D., have come out in opposition to Cain's appointment, likely sinking his chances of confirmation by the Senate, since it's unlikely that he will get the support of Senate democrats. I think that's an asset. She included a multiple-choice questionnaire asking if he still held prior views, including describing himself as "not an expert on monetary policy".
Trump recently gathered with generals and other military leaders for a meeting about the Mexican border, according to two people familiar with the chain of events who spoke on the condition of anonymity to freely describe the discussions. The joke fell flat. We've seen how a responsible Fed board should behave, and it sets the standard the U.S. Senate should expect before approving a nominee: At the height of the financial meltdown in 2008, then-chairman Ben Bernanke made the case to President Bush for a necessary but deeply unpopular bank bailout.
But their slim control of the chamber makes it almost impossible to confirm someone who Republicans can't rally around. "I would anticipate voting no". But he said earlier this week that he didn't know how Cain was faring in the vetting process and that Cain "will make that determination" whether to continue. Asked to elaborate, Murkowski responded: "I'm just not a fan". Cain, 73, has called the allegations unfounded.
The White House declined to comment, but Axios and the Wall Street Journal noted that Cain is being contemplated. One is a background check and the other is the likelihood of confirmability.
"Several of our members have had strong feelings about people who've been mentioned in newspaper articles", McConnell said in a pen-and-pad briefing with reporters. "I think he's going to turn into a good Fed chairman". "On a daily basis".
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. Last year, in September, he helped found a pro-Trump super political action committee, America Fighting Back PAC, whose website says, "We must protect Donald Trump and his agenda from impeachment".
But he has already garnered support among a number of leading GOP senators, including those who are no on Cain.