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

Trump stands by controversial Fed pick Herman Cain

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.

A swift defection of at least four Senate Republicans has all-but-doomed the chance of Herman Cain to win a seat on the Federal Reserve's board of governors, serving as one of the most striking rebukes to President Trump's personnel choices since he took office in 2017.

The president has said privately that he knows Cain will have trouble getting confirmed to the Federal Reserve Board, people familiar with the matter said Thursday.

Asked if a Cain nomination would face problems, McConnell, R-Ky., noted that successful nominees must pass background checks and have a likelihood of confirmation. Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a unsafe thing for an economy when the central bank of a country has. political influence". Moore and Cain would likely be similarly beholden to Trump.

Chevron buys Anadarko in US$33 bil bet on shale oil, LNG
The boards of both companies have approved the transaction, and the deal is supposed to close in the second half of this year. Credit Suisse Group AG was financial adviser to Chevron while Paul, Weiss, Rifkind, Wharton & Garrison LLP was legal adviser.


The other is Stephen Moore, 59, a controversial economist and former Trump campaign adviser.

Fed officials continue to deny that Trump's tweets and criticisms are having any impact on monetary policy. "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.

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. Another 12 members of the Federal Open Market Committee, which sets interest rates, head regional banks and are chosen by local boards of directors, not the president.

Central bank "capture" by national leaders has been blamed for a variety of economic ills, from hyperinflation to runaway debt used to finance projects in hopes of winning reelection.

At least three killed in Summit Air plane crash at Lukla airport
The pilot and three other crew members survived and are being treated at a hospital in Kathmandu after being airlifted there. Last month, seven people, including Nepal's tourism minister were killed in a helicopter crash in eastern Nepal.


"He's a fine person", Kudlow said of Powell.

We'll now have to see if Trump follows up with another poorly qualified media figure, or lets Moore stand alone as a testament to his belief that talking on television is the only relevant qualification for any position, from president on down.

"Yeah", said Moore in 2016.

Israel Folau stood down by Waratahs
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