Why politicizing the Federal Reserve could have dangerous consequences | Analysis by Matt Egan
The American central bank has proven that it's not scared to tap the brakes on the economy to prevent runaway inflation — even if an election is lurking around the corner. That track record creates stability in global markets and gives confidence to investors.Now President Donald Trump is putting that carefully-crafted perception of Fed independence at risk. Trump has repeatedly attacked the Fed and has said he even considered firing its chairman, who he selected.
"Remember the 9-9-9 plan?Days after his name was floated, Moore, a former CNN analyst and Trump campaign adviser, called for the central bank to immediately slash interest rates. Former Fed officials warned that the move would be radical and counterproductive. "Editorializing for a rate cut as a presumptive nominee is unthinkable behavior," said Kotok.And Cain, the former CEO of Godfather's Pizza, believes the United States should return to the gold standard.
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Perspective | Stephen Moore would change the Federal Reserve for the worse — much worseStephen Moore's appointment to the Fed would be a major step up in its politicization and step down in its expertise.
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Trump: Herman Cain would 'do very well' at Federal ReserveWatch CNBC Senior Analyst Ron Insana and Financial Times U.S. Alphaville U.S. Editor Brendan Greeley join Stephanie Ruhle to discuss how today’s markets are responding to March’s huge jobs report and President Trump’s controversial pick to put Herman Cain on the Federal Reserve board.
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Adultery, arrears and amends: Inside Trump Federal Reserve pick Stephen Moore’s messy and very expensive divorceMoore created accounts on Match.com, “the sole purpose of which was to connect romantically with other women,” and bought his mistress a t-shirt that read “Doing it,” according to his ex-wife’s testimony.
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Trump Selects Herman Cain for Federal Reserve Board, Sources SayTrump plans to announce his selection very soon, said three people, who asked not be identified discussing the nomination because it hasn’t been announced. In Cain and Moore, Trump would place two political loyalists on the board of a central bank that has frequently crossed him.
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Trump considering Herman Cain for Federal Reserve BoardNEW: President Trump is considering naming Herman Cain, a former pizza company executive and 2012 Republican presidential candidate, to the Federal Reserve Board, according to two sources familiar with the matter.
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Trump to name former pizza magnate Herman Cain for spot on the Federal ReservePresident Donald Trump says he'll name former Republican presidential candidate Herman Cain for the Federal Reserve board.
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Trump recommending Herman Cain for Federal Reserve BoardNEW: President Trump is considering naming Herman Cain, a former pizza company executive and 2012 Republican presidential candidate, to the Federal Reserve Board, according to two sources familiar with the matter.
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Kim Kardashian Made A Joke About Having No Talent When North Asked Why She's FamousKim Kardashian Had The Funniest Response To North West Asking Why She's Famous
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