Criticism mounts of Trump pick for U.S. Federal Reserve

McConnell won't say if Senate would back Herman Cain for Fed

Herman Cain is expected to withdraw his name from consideration for the Federal Reserve's Board of Governors, amid growing pressure from Republican senators on the White House to remove him from consideration, according to multiple sources familiar with the matter.

Elected officials and interest groups on both sides of the political aisle voiced support for Powell, and for the need to keep the Fed at arms length from the influence of politicians in its interest rate decisions. And last week Trump told Reuters that Powell is a "good man" who is "trying to do what he thinks is best", one of the more complimentary statements he's made about the Fed chair in months.

The president has already said he plans to unveil yet another conservative secretary, Stephen Moore, for a vacancy on the board.

Senate Majority Leader Mitch McConnell, R-Ky., who has privately encouraged his members to take their concerns about problematic nominees directly to the White House, declined on Thursday to say whether Trump should refrain from nominating Cain altogether. There is also concern that Cain's background check will resurrect past sexual harassment and misconduct allegations that surfaced during the 2012 presidential campaign. Cain's bid for the White House in 2012 came to a halt after two women claimed Cain sexually harassed them when they worked for the National Restaurant Association, where Cain was president and CEO.

Trump in recent days has said he wants to add Cain to the Fed's seven-member board of governors at a time when he has been repeatedly chiding the central bank's leadership for their management of interest rates.

Controversy over Cain's possible nomination, as well as that of economic commentator and Trump supporter Stephen Moore, continued on Thursday.

Cain formerly served on the board of the Fed's Kansas City regional bank.

President Erdoğan calls for Sudan to restore peace, democracy
The head of the junta that seized power in 1989, Bashir dissolved the military council in 1993 and ruled with an iron fist. It was his first such speech since he imposed a state of emergency across the country in February.

"I've recommended Herman Cain".

President Donald Trump is unhappy that the U.S. Federal Reserve under the chairman he chose, Jerome Powell, raised interest rates.

"I think having someone with business experience on the Fed would be a real breath of fresh air", Moore said.

Moore, asked about the criticisms leveled against Cain and himself for being political, said "I'm a policy guy and he's a businessman, and I think most Americans like the idea of putting non-PhD economists, non-academics into the Fed".

"I don't really think I've said anything much about the gold - I'm not in favor of a gold standard", Moore said.

Neither nomination has been formally sent to the Senate but Trump has said he will put their names forward.

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