Trump Considering Appointing Herman Cain To Fed Position

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"He's a very, terrific man, terrific person".

(Steve Pope/Getty Images) Potential GOP presidential candidate Herman Cain, the former chairman and CEO of Godfather's Pizza, speaks at the Iowa Faith & Freedom Coalition event, March 7, 2011, in Waukee, Iowa. Trump, meanwhile, has continued to rail against the Fed, even as he has said he will nominate conservative commentator Stephen Moore, a proponent of rate cuts, for a second vacant seat on the Fed Board. Moore's nomination has ignited criticism that he is unqualified and too politically minded to serve on the board of the world's most influential central bank.

Bloomberg confirmed, citing three unnamed people "familiar with the matter", that Trump intends to nominate Cain to the the board.

The White House declined comment.

Axios reported that Trump has "told confidants" that he wants Cain on the Fed, pending a background check.

"I have recommended him highly for the Fed", Trump said in a press conference Thursday. An Atlanta woman also said she had conducted an extramarital affair with Cain for more than 13 years. Mitt Romney, R-Utah, raised issue with it.

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"He's doing some pre-checking now and I would imagine he'd be in great shape", the president said.

During the presidential campaign, Cain became known for his "9-9-9" tax plan, which would have replaced much of the US tax code with a flat 9 percent tax on sales transactions as well as corporate and individual income.

Brown said the February 5 fundraising email was likely approved before Cain's meeting with Trump, after which "he immediately ceased his efforts".

Four current Fed board members were appointed by Trump, including Chairman Jerome Powell, an appointment Trump apparently regrets. The White House announced Thursday that Trump was nominating Michelle Bowman, a Kansas banking regulator, for a full 14-year term on the Fed. Moore is also a longtime Trump ally who has joined him in criticizing last year's rate hikes.

Minutes of meetings during that period, obtained by Reuters from the Fed, show that the bank's directors were among those who repeatedly asked the Washington-based Board of Governors to raise rates when most of the boards of directors for the other Fed banks opposed any hike.

Despite the unnecessary and destructive actions taken by the Fed, the Economy is looking very strong, the China and USMCA deals are moving along nicely, there is little or no Inflation, and United States of America optimism is very high!

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