Cain's possible Fed nomination in peril as Republican opposition mounts

Cain's possible Fed nomination in peril as Republican opposition mounts

Cain's possible Fed nomination in peril as Republican opposition mounts

Republicans control 53 seats of the 100-chamber Senate, and losing the support of four members means Cain would need help from Democrats, which appears unlikely.

Powell declined to discuss the president, according to the people, a comment that was greeted by applause. The White House had no comment Thursday about the growing opposition to Cain among Senate Republicans, or whether the administration plans to formally submit his nomination to the Senate.

Economists and critics have expressed concerns about loyalists of Republican Trump serving on the traditionally nonpartisan central bank.

More likely than not, though, Cain's proto-nomination is toast; there are late-breaking reports that he will withdraw his candidacy for the post, relieving the president of the responsibility for pulling the plug.

"It's all just sort of a vague memory right now, but it's hard not to hear "Herman Cain" in the context of something like this and not immediately recall some of those challenges", the North Dakota Republican said on Tuesday. Kevin Cramer, R. -N.D., that he opposed Cain, citing past charges of sexual harassment that resulted in Cain's withdrawl from the 2012 Republican presidential race. The chairman told the lawmakers that interest rates are at about the right level given current economic conditions and that the benefits of US economic growth haven't been as widely spread as the Fed would like.

White House economic adviser Larry Kudlow said earlier on Thursday that Trump intends to proceed with his plan to name Cain to the Fed's board of governors.

Solskjaer risks overseeing worst Man Utd run in 27 years
I want to work with Mick Phelan and I want him to do the job he's doing. "Who's going to be the voice in and around [the place]". Pogba is their outstanding player not just on the pitch but in a commercial sense, and this is crucial to United's strategy.

US Homeland Security Secretary Kirstjen Nielsen resigns
McAleenan is a longtime border official who is well-respected by members of Congress and within the administration. McAleenan also has a reputation within CBP as a "brilliant" mind with "tremendous organizational skills".

Joe Biden to Make First Public Appearance Since Complaints About Behavior
On Friday, Trump told reporters Biden is "going through a situation" and said he doesn't regard him as a political threat. He doesn't get it if he's not understanding that women think their space was violated, that they were disrespected.

Cain once ran Godfather's Pizza and served as chairman of the Federal Reserve Bank of Kansas City in the 1990s. "Herman is a great guy and I hope he does well". The nominations must be approved by the Senate. Cain, 73, has called the allegations unfounded.

Senate Majority Leader Mitch McConnell told members during a private lunch on Tuesday to share their concerns with the White House sooner rather than later, before Trump officially nominates Cain. 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 with reporters. "You want someone who is going to think for themselves and be able to hold their own around that table", she said.

When asked whether he was surprised by Trump's consideration of Cain for the Fed, McConnell responded: "Surprised?"

Trump's interest in potentially nominating Cain along with another political ally, conservative commentator Stephen Moore, has sparked questions among lawmakers from both parties in Congress about the president's influence on the central bank.

Cain, 73, has been a big supporter of Trump and launched a pro-Trump political action committee - America Fighting Back PAC - in 2018.

Related news