WASHINGTON — President Trump said on Thursday that he planned to nominate Herman Cain, who abandoned his 2012 presidential bid in the face of escalating accusations of sexual misconduct, for a seat on the Federal Reserve Board.
Mr. Trump, speaking from the Oval Office, called Mr. Cain, the former chief executive of Godfather’s Pizza, “a truly outstanding individual” and said, “I’ve told my folks that’s the man.”
The decision to consider Mr. Cain is the second time in weeks that the president has floated candidates with deeply held political views and past ethical issues to fill a seat on the Fed, signaling his intent to put allies on a traditionally independent body. It comes as Mr. Trump has continued to attack the Fed and his handpicked chairman, Jerome H. Powell, for raising interest rates in 2018, saying those moves slowed economic growth.
Last month, Mr. Trump said he planned to nominate Stephen Moore, a conservative economist who advised his presidential campaign and has become a vocal critic of the central bank’s recent rate increases, as a Fed governor.
Mr. Trump has staked his presidency on a booming economy and his re-election could hinge on whether it continues to surge or falter. The Fed, which has the ability to stimulate the economy by lowering interest rates and using other tools at its disposal, will play a crucial role in the economy’s trajectory.
While presidents have long stocked regulatory agencies with partisan appointees in pursuit of ideological goals, the Fed’s seven-member board of governors has largely been an exception given the role it plays in the United States economy. The Fed’s primary job is to guide the economy, typically by adjusting interest rates. It aims for sustainable growth, maximum employment and stable prices. It also regulates banks and oversees the plumbing of the financial system.
Most developed nations have granted their central banks considerable autonomy over policymaking precisely because of concerns that politicians would seek to increase short-term growth at the expense of inflation and instability. Some modern presidents have opined openly about what the Fed should do, including President George Bush, who declared in a State of the Union address that the central bank should keep rates low.
But in recent decades, the volume of public commentary greatly diminished as politicians concluded that pressuring the Fed was counterproductive.
The president has largely abandoned that tradition. Last year, as interest rates rose and the stock market declined, Mr. Trump repeatedly attacked Fed policy as “crazy,” “wild” and “loco.” He asked aides whether he could replace the chairman and lamented privately that Mr. Powell’s appointment was one of his biggest regrets.
The Fed, which raised rates for five consecutive quarters amid a roaring economy with the lowest unemployment rate in nearly two decades, has since paused its campaign. Mr. Powell has repeatedly rebuffed any suggestion that the central bank is being influenced by Mr. Trump’s broadsides, saying it is adopting a more “patient” approach to interest rates given signs of economic weakness in the United States and abroad.
With two open seats on the seven-member Fed, Mr. Trump has the ability to drastically shape the central bank for the foreseeable future. The president has already appointed four of the Fed’s current governors, who carry 14-year terms. One governor, Lael Brainard, is a holdover from the Obama administration.
The appointment and confirmation of Mr. Moore and Mr. Cain could put the Fed in uncharted territory. While the institution has strongly rooted values around technical competence and apolitical debate, Mr. Trump’s latest choices have been political actors rather than in-the-weeds experts in any of the main areas in which the Fed makes policy.
Two governors alone cannot entirely shape Fed policy, but they can have an effect on decisions. The Federal Open Market Committee, which sets interest rates, consists of 12 voting members, including the seven governors, the president of the Federal Reserve Bank of New York and four regional Federal Reserve Bank presidents, who serve one-year terms on a rotating basis. Changes to interest rates must be approved by a majority of the voting members.
Both Mr. Moore and Mr. Cain are undergoing background checks, and if nominated, must be confirmed by the Senate.
The choice of such candidates to fill two of the most powerful jobs in economic policy is raising fears among some Fed veterans that the president is installing political allies at the central bank to do his bidding.
“It’s one thing to put cronies into the executive branch, but I think the central bank is another kind of institution that it’s so critical in that it holds the reins solely to monetary policy,” said Sarah Bloom Raskin, who served on the Fed’s board of governors from 2010 to 2014. “It has the potential to undermine the credibility of monetary policy.”
Mr. Cain’s nomination is being supported by Larry Kudlow, who heads the National Economic Council and also recommended Mr. Moore for a Fed seat, according to a person familiar with the discussions.
While he heaped praise on his “friend” Mr. Cain, Mr. Trump earlier in the day continued his assault on the “destructive actions” taken by the Fed and said on Twitter that the economy was very strong despite the central bank’s efforts.
The selection of Mr. Moore and Mr. Cain appeared to be a counterweight to Mr. Powell. But while Mr. Moore has been publicly critical of the Fed and called for Mr. Powell to resign, Mr. Cain’s views are less clear.
As a presidential candidate, Mr. Cain rode a brief surge in popularity to the top of the polls on the back of his “9-9-9” economic plan. The proposal called for scrapping the existing tax code and replacing it with a flat 9 percent income tax, a 9 percent business tax and a 9 percent national retail sales tax. The concept was hailed by some for its simplicity, but it ultimately fizzled with his campaign.
On monetary policy, his views are equally unorthodox. In a 2012 op-ed in The Wall Street Journal, Mr. Cain accused the central bank of manipulating the value of the dollar by raising and lowering interest rates by whim and called for a return to the gold standard, which was abandoned in 1971.
“For the last 40 years in Washington, regulate has meant manipulate, with the Federal Reserve raising and lowering interest rates and buying and selling assets at its own discretion,” Mr. Cain wrote, arguing that a complex society needs fixed standards. “A dollar should be defined — as it was prior to 1971 under the postwar Bretton Woods system — as a fixed quantity of gold.”
Mr. Cain is also a former chairman of the Federal Reserve Bank of Kansas City, a role that is often given to local business leaders. In a 2011 interview with The Atlantic, Drue Jennings, who served with Mr. Cain on the board, said that Mr. Cain was an “inflation hawk” when it came to monetary policy, a moniker attributed to those who view rising prices as a threat to economic growth and favor higher interest rates to keep inflation in check.
Mr. Trump has made clear he has no interest in a Fed governor who wants to raise rates but, more recently, Mr. Cain has shown that he has evolved on the subject.
“If I were offered the job, I would try to encourage the Fed not to make inflation a fear factor because deflation, as Stephen Moore had pointed out in a great article that he wrote along with another economist, deflation is more of a fear factor than inflation,” Mr. Cain said in a February interview with the Fox Business Network.
Perhaps most important to Mr. Trump, Mr. Cain has shown that he is loyal to the president. In September, Mr. Cain formed the America Fighting Back PAC, which has a mission of publicly rebutting what he believes is misinformation about Mr. Trump.
“We’re offering a compelling, solid refutation to what you hear from the media and the rest of the left about President Trump and conservative ideas,” Mr. Cain said at the time.
It is unclear whether Mr. Cain will clear the background check. His presidential campaign came to a screeching halt after several women came forward with accusations of sexual harassment or improper behavior.
The selection of Mr. Cain drew backlash on Thursday from some of those women.
Ginger White, who publicly said in 2011 that she and Mr. Cain had had an affair, said that he should not be rewarded for such actions. Ms. White said that the affair was on and off for 13 years and that Mr. Cain denied it because he was seeking the Republican nomination for president.
“We need honesty and integrity in those who are appointed to public office,” Ms. White said in a statement released by her lawyer, Gloria Allred. “Herman Cain should not be rewarded for his bad behavior. In my opinion, he lacks what should be required for appointment to the Federal Reserve or any public office.”
Sharon Bialek, who is also represented by Ms. Allred, came forward in 2011 and accused Mr. Cain of grabbing her in a sexually aggressive way when she sought his help after losing her job at the National Restaurant Association in the late 1990s. Ms. Bialek said in a statement on Thursday evening that Mr. Cain sexually harassed her and that he was not fit for public service.
“I did not think that he was a man of character then, and I do not think he is now,” Ms. Bialek said. “Anyone who uses their position of power to take advantage of a woman does not possess the character, integrity or values required to serve on the Federal Reserve Board.”
In some ways, Mr. Cain, who preferred news interviews to intensive retail campaigning, presaged Mr. Trump’s own outsider campaign four years later. But unlike the president’s presidential bid, Mr. Cain’s was fatally wounded when he faced charges of sexual misconduct.
In October 2011, Politico reported that Mr. Cain, as head of the National Restaurant Association, had been accused of sexually harassing two women, who left the trade group after receiving financial payouts and signing nondisclosure agreements. One of the women, who was from Chicago, said that Mr. Cain made an unwanted and rough physical advance.
Confronted with the claims, Mr. Cain initially did not deny them. He later proclaimed his innocence and sought to cast blame on political rivals and the news media for what he called a smear campaign.
Other women emerged soon after to say that they, too, had been sexually harassed by Mr. Cain. By that December, he dropped out of the presidential race.B:
白小姐青龙报论坛大全【在】【猴】【脸】【青】【少】【年】【脸】【色】【难】【堪】【的】【时】【候】，【从】【华】【清】【大】【学】【报】【到】【处】【后】【面】【走】【出】【几】【个】【俊】【男】【俊】【女】。 【为】【首】【的】【正】【是】【当】【日】【和】【周】【天】【也】【交】【战】【的】【邱】【少】【峰】。 【邱】【少】【峰】【眉】【头】【紧】【蹙】，【问】【道】：“【怎】【么】【回】【事】？” 【说】【罢】，【扫】【了】【眼】【周】【围】，【看】【到】【周】【天】【也】【在】【旁】【后】，【手】【中】【松】【懈】【的】【拳】【头】【紧】【紧】【握】【住】。 【当】【日】，【他】【与】【周】【天】【也】【交】【战】，【败】【北】【之】【后】【回】【去】，【被】【何】【导】【师】【狠】【狠】【责】【罚】【了】。
【在】【场】【众】【人】【都】【有】【些】【紧】【张】【的】【看】【着】【林】【天】【成】，【等】【待】【他】【的】【选】【择】，【尤】【其】【是】【那】【位】【老】【者】，【尽】【管】【他】【已】【经】【亮】【出】【了】【自】【己】【的】【底】【牌】，【不】【过】【这】【个】【底】【牌】【有】【多】【大】【的】【作】【用】，【他】【还】【真】【不】【敢】【说】！ 【不】【过】【张】【钊】【却】【在】【给】【乔】【老】【还】【有】【无】【尘】【尊】【者】【递】【眼】【神】，【那】【意】【思】【显】【然】【是】【让】【他】【们】【做】【好】【战】【斗】【准】【备】。 【以】【他】【对】【林】【天】【成】【的】【了】【解】，【应】【该】【不】【会】【同】【意】【对】【方】【的】【条】【件】，【林】【天】【成】【平】【时】【的】【一】【贯】【作】【风】【那】
【封】【铮】【和】【肖】【柒】【的】【拥】【抱】【看】【起】【来】【大】【大】【方】【方】，【自】【然】【到】【不】【能】【再】【自】【然】。 【哦】，【除】【了】【那】【个】【从】【后】【面】【拥】【抱】。 【但】【是】【封】【铮】【不】【提】，【节】【目】【组】【也】【拿】【不】【准】【封】【铮】【是】【什】【么】【意】【思】，【只】【能】【等】【到】【录】【完】【节】【目】【之】【后】【问】【问】【封】【铮】【之】【后】【再】【决】【定】。 【封】【铮】【这】【个】【人】【看】【起】【来】【好】【相】【处】，【实】【际】【上】【混】【迹】【娱】【乐】【圈】【的】【人】【都】【知】【道】，【最】【难】【接】【近】【的】【就】【是】【封】【铮】【了】，【而】【且】【封】【铮】【这】【个】【人】【虽】【然】【不】【是】【什】【么】【豪】【门】
【日】【格】【的】【姑】【妈】，【那】【个】【肥】【胖】【的】【沙】【坦】【族】【的】【女】【勇】【士】，【自】【然】【不】【是】【因】【为】【看】【上】【了】【他】【们】【三】【人】【之】【中】【的】【一】【人】，【才】【表】【现】【的】【格】【外】【热】【情】【和】【神】【神】【秘】【秘】【的】。【据】【日】【格】【所】【说】，【在】【明】【晚】【部】【落】【里】【会】【举】【行】【一】【场】【盛】【大】【的】【晚】【宴】，【来】【庆】【祝】【他】【们】【这】【次】【大】【丰】【收】，【届】【时】【会】【邀】【请】【他】【们】【这】【些】【外】【来】【者】【一】【起】【参】【加】。 【沙】【坦】【族】【的】【盛】【大】【晚】【宴】，【在】【张】【昭】【的】【想】【象】【中】，【应】【该】【是】【载】【歌】【载】【舞】，【呈】【现】【各】【种】【美】【食】白小姐青龙报论坛大全“【又】【打】【仗】【的】【呀】，【这】【么】【小】【的】【一】【个】【地】【方】，【怎】【么】【老】【是】【打】【仗】【呢】。” “【说】【的】【是】【呀】，【谁】【能】【想】【到】【呢】，【就】【那】【么】【一】【小】【块】【地】【方】，【每】【天】【打】【来】【打】【去】【的】，【也】【不】【知】【道】【那】【里】【到】【底】【住】【了】【多】【少】【人】，【能】【连】【一】【百】【个】【人】【都】【没】【有】，【怎】【么】【就】【打】【起】【来】【了】【呢】。” “【人】【这】【么】【少】【的】【吗】？【可】【是】【如】【果】【人】【这】【么】【少】【的】【话】，【就】【不】【叫】【打】【仗】【就】【打】【架】【了】【吧】？” “【你】【们】【不】【知】【道】【啊】，【那】【是】【我】【们】
【金】【龙】【百】【哈】【十】【挂】【元】 【终】【于】【要】【完】【成】【了】 【随】【着】【火】【力】【的】【增】【大】，【铜】【炉】【中】【的】【另】【外】【药】【物】【都】【在】【逐】【渐】【化】【解】，【唯】【一】【这】【株】【百】【灵】【花】【反】【倒】【兴】【旺】【起】【来】，【甚】【至】【首】【先】【吸】【取】【另】【外】【药】【物】【的】【药】【力】【逐】【渐】【发】【展】，【梦】【境】【般】【的】【紫】【色】【逐】【渐】【导】【致】【了】【火】【红】，【并】【且】【长】【出】【龙】【朵】【小】【小】【地】【花】【蕾】，【在】【赤】【岩】【紫】【火】【的】【确】【晖】【映】【下】【绚】【烂】【无】【比】，【逐】【渐】【绽】【放】【地】【神】【志】。 “【终】【于】【要】【完】【成】【了】。”
【半】【年】【后】【的】【冬】【季】，【奶】【芯】【抱】【着】【自】【己】【家】【里】【的】【小】【白】【猫】【看】【着】【电】【视】【购】【物】。【就】【在】【这】【时】【候】，【她】【手】【机】【响】【了】【起】【来】，【是】【前】【两】【天】【雪】【琪】【给】【录】【制】【的】【铃】【声】，【奶】【芯】【不】【会】【换】【回】【来】【就】【没】【有】【管】。 【是】【雪】【琪】【打】【过】【来】【的】【电】【话】，【他】【和】【奶】【芯】【说】：“【乖】【乖】，【哥】【哥】【要】【晚】【两】【分】【钟】【才】【能】【回】【去】，【别】【出】【门】【啊】。” 【他】【的】【声】【音】【和】【以】【前】【一】【样】【温】【柔】，【温】【柔】【到】【奶】【芯】【都】【挑】【不】【出】【来】【什】【么】【毛】【病】。 【可】
【徐】【浩】【然】【和】【韩】【离】【天】【的】【对】【战】，【看】【似】【简】【单】【不】【花】【哨】，【却】【处】【处】【透】【着】【致】【命】【危】【险】。 【能】【进】【来】【这】【里】【的】【都】【是】【修】【炼】【多】【年】【人】【精】，【眼】【光】【和】【见】【识】【都】【不】【低】。 【让】【他】【们】【自】【己】【上】【场】【动】【手】，【多】【多】【少】【少】【会】【散】【放】【一】【些】【灵】【力】【或】【者】【神】【之】【力】【出】【来】，【那】【可】【是】【会】【展】【示】【自】【己】【修】【炼】【的】【属】【性】【的】。 【反】【观】【这】【二】【位】，【使】【用】【的】【火】【焰】【是】【金】【色】【的】，【刀】【舞】【打】【出】【的】【是】【白】【色】【的】【光】【芒】，【都】【不】【是】【九】【大】【属】