Elections Trump expected to name Herman Cain to Federal Reserve board

[Lead]

President Trump confirmed on Thursday that he wants Herman Cain on the Federal Reserve board, pending a vetting process. Earlier in the day, Axios reported that he was waiting on vetting before announcing a formal nomination.

Why it matters: It's likely confirmation that Trump is ready to move ahead with the former presidential candidate, whose possible nomination was reported by Bloomberg in January. "He won't formally announce until the vet is completed. ... But he likes Cain and wants to put him on there," a senior official who has discussed the matter with the president told Axios before Trump's public comments.

Didn't know he was a banker before the pizza business.

Terms for the position are 14 years so Cain would be around for quite awhile after Trump leaves office. There are seven seats and two currently are vacant. Looks like Trump has appointed quite a few.

 

[Limbo Pete]

Obligatory

Spoiler

 

[Social Distance Warrior]

I kind of miss hearing about the 999 plan every other minute...

and then hearing Michelle Bachman going full retard during the Repub debates saying, "if you invert the 999, you get 666, the devil is in the details."

 

[Jack V Savage]

Didn't know he was a banker before the pizza business.

I don't think he was. I think people are confused about that because he was on the Kansas Fed, but that's kind of honorary thing for local business leaders.

Theoretically, it's funny that Trump would put a known tight-money guy there when he's made it clear that he wants looser money, but in fact, Cain's real approach is hard money when a Democrat is in the WH and you want to slow the economy down (unemployment be damned) and loose money when a Republican is in the WH.

 

[Seraldo Babalu]

 

[zebby23]

Elections have consequences... we are seeing them every day

 

[Anung Un Rama]

 

[HereticBD]

CAIN!!!

 

[bobgeese]

3x3
2x4+1
10-1

 

[MASShole]

I don't think he was. I think people are confused about that because he was on the Kansas Fed, but that's kind of honorary thing for local business leaders.

Theoretically, it's funny that Trump would put a known tight-money guy there when he's made it clear that he wants looser money, but in fact, Cain's real approach is hard money when a Democrat is in the WH and you want to slow the economy down (unemployment be damned) and loose money when a Republican is in the WH.

Also still peddles gold.

 

[Cubo de Sangre]

Dude's name always makes me think of The Zodiac.

Herb, Herm, what's the difference?

 

[hillelslovak87]

How many dipshits or corporate interest does Trump have to put in power before you guys are off the train?

 

[Strychnine]

 

[Anung Un Rama]

How many sweater vests does Rick Santorum have to kill before he gets appointed? C'mon!

 

[all caps]

How many dipshits or corporate interest does Trump have to put in power before you guys are off the train?

Bombing Syria made trump indefensible. Theres no coming back from that, we already know what's what.

 

[hillelslovak87]

Bombing Syria made trump indefensible. Theres no coming back from that, we already know what's what.

Yet, the MAGimps still defend him, time after time.

 

[Jorge Luis Borges]

I like Herman Cain. Not sure about his qualifications for the FRB.

 

[KONG-D'SNT-TAP]

Lmao @ this decision.

What’s next Michele Bachmann?

 

[KONG-D'SNT-TAP]

Hermain Cain is the man who ran a campaign for presidential nominee based around a 999 tax plan.

He knows nothing about this subject. He should be laughed off any stage he’s on.

 

[hillelslovak87]

Lmao @ this decision.

What’s next Michelle Bachman?

You just said something insanely stupid, that means it's gonna happen. Bachmann for CDC head.