TRUMP NOMINATION OF THE PRESIDENT CANDIDATES FOR THE GOVERNOR OF THE FED
US President Donald Trump said he would nominate Herman Cain, a former Republican presidential candidate, to sit on the Federal Reserve's Board of Governors, a move that surprised the court.
"I recommend Herman Cain. He's an extraordinary man," Trump told reporters in the Oval Office. "I think he will do very well" at the Fed, the president added. "He's a very nice man."
Trump previously said he would appoint former Wall Street Journal editorial writer Stephen Moore to the Fed, but the White House had not sent a nomination to the Senate. Moore and Cain will fill two vacancies left on the seven-member board of the Fed. Trump's interest in choosing Cain for the nomination of the Fed officials was first reported in January. The president remains very critical of the Fed's interest rate policy even thinking the central bank has shifted towards a dovish.
Trump said he did not try to send a message to the Fed or influence the Fed's policy by choosing Moore and Cain.