Thursday, 25 April, 2019


Herman Cain expected to withdraw from Fed Reserve Board of Governors consideration

Federal Reserve Chairman Powell holds news conference following two-day policy meeting in Washington McConnell won't say if Senate would back Herman Cain for Fed
Conrad Doyle | 14 April, 2019, 20:09

In March, the Fed left interest rates unchanged after concluding a two-day policy meeting, and again pledged to be patient with future rate hikes.

"The Fed is an independent agency", she said.

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.

The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019.

Axios quoted two senior administration officials as saying Trump wants to nominate Cain however would like to await his background check.

Economists and critics have expressed concerns about loyalists of Republican Trump serving on the traditionally nonpartisan central bank.

"When Powell was first appointed, he might have gotten a chilly reception from our caucus" because he was elevated to Fed chair by Trump, Sherman said. Moore and Cain would likely be similarly beholden to Trump. "We also know that moving too slowly - keeping interest rates too low for too long - could risk other distortions in the form of higher inflation or destabilizing financial imbalances", Powell said on November 28.

The president nominates members to the Fed's seven-member board of governors and Trump elevated Powell to chairman a year ago.

In recent days Trump tried to take a slightly softer tone, telling Fed Monday leaders to "Take the victory!" of a solidly growing economy with "virtually no inflation" and not ruin all the good by raising interest rates. We've seen how a responsible Fed board should behave, and it sets the standard the U.S. Senate should expect before approving a nominee: At the height of the financial meltdown in 2008, then-chairman Ben Bernanke made the case to President Bush for a necessary but deeply unpopular bank bailout.

Moore has said recently he wanted to accommodate Trump's policies, that he feels the president's reelection was necessary for the country's economic success, and wants to do battle with what he calls "growth-phobiacs" at the Fed. "He's not a political person in any way", she said. I think they really slowed us down.

"Yeah", said Moore in 2016.

Recommended

loading...
...

SpaceX has again postponed the launch of the Falcon Heavy SpaceX has again postponed the launch of the Falcon Heavy The satellite is created to provide television, internet, telephone, and secure communications to customers in the Middle East. The SpaceX launch, which also happened to be the Heavy's second-ever flight, delivered a Saudi Arabian satellite into space.

Nepal plane hits parked helicopter while taking off, killing three Nepal plane hits parked helicopter while taking off, killing three The pilot and three other crew members survived and are being treated at a hospital in Kathmandu after being airlifted there. Four of the passengers and a flight attendant on board the plane were safe, civil administrator Narendra Kumar Rama said.

Facebook, Instagram and WhatsApp down worldwide: Singapore, Manila, Bangkok among those hit Facebook, Instagram and WhatsApp down worldwide: Singapore, Manila, Bangkok among those hit Downdetector .com's live outage map showed that the issues mainly cropped up in Europe. Can't load your Facebook or Instagram page?

Huesca holds experimental Barcelona side Huesca holds experimental Barcelona side Valverde fielded an nearly unrecognizable starting 11 on Saturday in a 0-0 draw at Huesca , the Spanish league's bottom team. With the league title seemingly locked up with only six rounds left, Valverde put his focus on United's visit on Tuesday.

Mnuchin postpones decision on handing over Trump tax returns Mnuchin postpones decision on handing over Trump tax returns If Rettig fails to do so, Neal said he will interpret as denying the request, which could pave the way for a court battle. However, Treasury Steve Mnuchin did not meet that deadline and Neal has now revised his deadline to April 23.

This Could Be The Most Impressive Xbox One Game Pass Lineup This Could Be The Most Impressive Xbox One Game Pass Lineup On the same day, we'll see The Golf Club 2 added to Game Pass, then on April 18 , it'll be Monster Hunter: World's time to shine. This new Game Pass expansion will be wrapped up on April 25 with the release of the Xbox One port of Resident Evil 5 .

Newark Man Among Three Marines Killed In Afghanistan Newark Man Among Three Marines Killed In Afghanistan Three other Americans were wounded in the blast Monday, which Afghan officials said was a vehicle bomb targeting a convoy. Slutman was awarded the Fire Chief Association Memorial Medal for saving a woman's life in a Bronx fire in 2013.

Shots fired in London as Ukraine ambassador auto rammed Shots fired in London as Ukraine ambassador auto  rammed It is not known if the man in the auto was wounded, but he was eventually removed from the vehicle and detained by police. British police opened fire after a vehicle rammed into the Ukrainian ambassador's official vehicle on Saturday morning.

Barrett entering National Basketball Association draft after one year at Duke Barrett entering National Basketball Association  draft after one year at Duke Thirteen of Duke's last 15 picks, and 20 of the last 25, have come in the first round, including 13 lottery picks. I'm looking forward to coming back and supporting the Blue Devils in any way I can".

Joel Embiid Could Miss The First Playoff Game For 76ers Joel Embiid Could Miss The First Playoff Game For 76ers Two general managers removed from Sam Hinkie and trusting the process, Elton Brand made two major acquisitions during this season. Embiid has been dealing with a knee injury which has kept him sidelined for four of Philadelphia's last six games.

Alexander Albon survives stunning crash in final Chinese practice Alexander Albon survives stunning crash in final Chinese practice But it's Bottas and Hamilton who own the corners and the Mercedes pair finished on the front row in qualifying. Obviously important if we can't beat them to be right behind them, buying us some options tomorrow, hopefully.

GM confirms mid-engine C8 Corvette unveiling for July 18 GM confirms mid-engine C8 Corvette unveiling for July 18 It is a good thing then that GM CEO Mary Barra finally made the announcement at a charity gala in NY last night. Chevrolet calls this next-generation model "the most anticipated Corvette ever".

Warriors' Curry leaves with sprained foot Warriors' Curry leaves with sprained foot The six-time All-Star had been limited to just 56 games this season due to various injuries and his trade request in January. Curry did not address the media after the game but appeared to be in good spirits as he got ready to leave the locker room.

Solskjaer says transfer rumors could explain Herrera absence Solskjaer says transfer rumors could explain Herrera absence I can't really comment too much on how far they are down the line, you'll have to ask him. The effort and attitude is there".

Vasyl Lomachenko Vs. Anthony Crolla Live Stream Vasyl Lomachenko Vs. Anthony Crolla Live Stream The fight was promoted by Top Rank Boxing and aired live on the Worldwide Leader in Sports' digital streaming service, ESPN+. Lomachenko dug blistering punches to the head and body, forcing Crolla (34-7-3, 13 KOs) on the defensive from the start.