White House economic adviser Larry Kudlow said earlier on Thursday that Trump intends to proceed with his plan to name Cain to the Fed's board of governors.
Three GOP senators - the Lisa Murkowski of Alaska, Utah's Mitt Romney and North Dakota's Kevin Cramer - told The Associated Press they would probably vote against Cain. Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a risky thing for an economy when the central bank of a country has. political influence".
Trump told reporters that it would be Cain's decision for now as to whether his nomination should remain intact. Trump has also said he wants to nominate conservative economist Stephen Moore to the Fed.
The White House declined to comment, but Axios and the Wall Street Journal noted that Cain is being contemplated. Cain was well known during his presidential campaign for a bumper-sticker tax plan that he called "9-9-9", but he has been forced to deny multiple accusations of sexual misconduct and harassment.
Warren sent a separate letter to Cain, a former Republican presidential candidate, also describing him as unsuitable for the post. Trump himself has taken a nontraditional approach to the Fed, repeatedly accusing it of mismanaging the economy by not pushing hard enough for low interest rates.
Controversy over Cain's possible nomination, as well as that of economic commentator and Trump supporter Stephen Moore, continued on Thursday. "Herman is a great guy and I hope he does well". Moore and Cain would likely be similarly beholden to Trump.
Asked about the controversy over the usually staid Fed, including statements by Cain and Moore in mainstream and social media, St. Louis Federal Reserve bank President James Bullard said the institution tends to "convert" people pretty quickly to its technocratic methods. At the meeting, which was held in the White House Situation Room, an aide passed Trump a note informing him that Cain was in the building. Senate Majority Leader Mitch McConnell withheld comment on Thursday on whether he would support Cain, saying he would wait to see "who is actually nominated". One is a background check and the other is the likelihood of confirmability. Last year, in September, he helped found a pro-Trump super political action committee, America Fighting Back PAC, whose website says, "We must protect Donald Trump and his agenda from impeachment".