web analytics
a

Facebook

Twitter

Copyright 2015 Libero Themes.
All Rights Reserved.

8:30 - 6:00

Our Office Hours Mon. - Fri.

703-406-7616

Call For Free 15/M Consultation

Facebook

Twitter

Search
Menu
Westlake Legal Group > Posts tagged "reserve"

Endgame? Trump advisor Stephen Moore’s nomination to the Fed would be “very problematic,” says … Lindsey Graham

Westlake Legal Group endgame-trump-advisor-stephen-moores-nomination-to-the-fed-would-be-very-problematic-says-lindsey-graham Endgame? Trump advisor Stephen Moore’s nomination to the Fed would be “very problematic,” says … Lindsey Graham Women Trump The Blog Susan Collins stephen moore Senate reserve republicans Lindsey Graham Joni Ernst Fed board

Westlake Legal Group g-6 Endgame? Trump advisor Stephen Moore’s nomination to the Fed would be “very problematic,” says … Lindsey Graham Women Trump The Blog Susan Collins stephen moore Senate reserve republicans Lindsey Graham Joni Ernst Fed board

You’d expect some harrumphing about a Trump nominee from Mitt Romney or Susan Collins. You wouldn’t expect it from a crony as loyal as Graham unless the nomination is on life support.

If you’d asked me two weeks ago to wager on whether a Republican Senate would stonewall not one but two Trump nominees for the Fed’s board of governors, I wouldn’t have even asked for odds. *Maybe* they’d bork Herman Cain, I’d have said, but only as part of a compromise in which Stephen Moore ends up confirmed.

Two weeks later, Cain is out and Moore looks to be DOA.

Sen. Lindsey Graham (R-S.C.) warned on Tuesday that Stephen Moore’s nomination to the Federal Reserve Board would be “very problematic,” marking the latest warning shot from Republicans on Capitol Hill.

“It will be a very problematic nomination,” Graham, a top Senate ally of President Trump’s, told reporters.

Asked if he would not support Moore, Graham said that he was still reviewing him.

Either the Senate GOP is growing bolder in resisting Trump despite the fact that we’re getting closer to an election or they’re giving special scrutiny to Fed nominations. Fed governors are supposed to be insulated from partisan politics, more like judges than executive branch apparatchiks, and Trump made two partisan choices in Moore and Cain. Fed picks aren’t high-profile the way cabinet members and SCOTUS appointees are either, which may have reassured McConnell’s caucus that they could get away with standing up to Trump here. There just aren’t enough members of Trump’s base who care about the Fed to get exercised about this.

Graham won’t be the deciding vote against a Trump nominee, but if he’s leaning towards no then there are bound to be others who are already there. It’d only take four Republicans to bork him. I’m looking around for a whip count and can’t find anyone yet who’s a hard no but there are plenty of discouraging asides, with Joni Ernst saying she’s “very unlikely” to support Moore in light of some of his old columns about women. Collins refrained from ruling him out when asked but didn’t sound enthused either, saying of Moore that it “appears that he has a lot of personal financial issues as well as troubling writings about women and our role in society and sports and also how he views the Federal Reserve.” Murkowski and Shelley Moore Capito also seemed grim. If they all vote against him, Moore’s done. Another unnamed Republican senator said flatly, “I don’t imagine he can get the votes.”

The White House is now reviewing Moore’s writings, which is a good thing to do 39 days after you’ve nominated someone and he’s already hanging by a thread in the Senate. Part of me wonders how much of the dirt being leaked on Moore is coming from Democrats and how much is coming from McConnell’s orbit, on the theory that it’s far less damaging to the party to tear him down and get him to drop out before he comes before the Senate than to do it during a confirmation hearing, before the cameras. The many leaks about skeletons in Moore’s closet may be Republicans’ way of quietly vetting Moore in public because Trump and his team neglected to do it before the nomination was announced:

During a 2016 debate on the minimum wage, for example, Mr. Moore talked about how to get more Americans into the labor force. In a serious tone, Mr. Moore said he would like to see more preteens working.

“I’m a radical on this,” he said. “I’d get rid of a lot of these child labor laws. I want people starting to work at 11, 12.”…

In 2014, Mr. Moore wrote a column for National Review, in which he said women earning more than men “could be disruptive to family stability.” Asked about that column on Sunday, Mr. Moore did not apologize, but said that strong economic growth under Mr. Trump was helping women and was the best way to reduce the gender pay gap…

He has also made jokes with racial overtones. Shortly after Mr. Trump was elected president, Mr. Moore broke from a talk about health care to tell his audience a joke about the departing first family. “By the way, did you see, there’s that great cartoon going along?” he said. “A New York Times headline: ‘First Thing Donald Trump Does as President Is Kick a Black Family Out of Public Housing,’ and it has Obama leaving the White House. I mean, I just love that one. Just a great one.”

Schumer would love to spend a few days of CSPAN airtime talking about the latest Trump nominee’s racial jokes and skepticism of child-labor laws. Getting Moore to drop out now would end the problem at a moment when this nomination is still off the radar of everyone except political news junkies. Kellyanne Conway was a good soldier for the White House today, vouching for Moore’s respect for women based on her long working relationship with him, but I’ll be surprised at this point if he lasts the week. (CNN’s latest piece highlighting Moore’s bon mots about women hit the Internet just a few hours ago.) In fact, I wonder if McConnell is quietly nudging Moore’s critics in the Senate at this point to issue firm statements opposing the nominee in order to speed that process up. There were four Republicans on record opposing Cain when he finally withdrew, ostensibly because he realized that he’d have to take a pay cut if he joined the Fed. All it’d take are four more to nudge Moore to give up.

The post Endgame? Trump advisor Stephen Moore’s nomination to the Fed would be “very problematic,” says … Lindsey Graham appeared first on Hot Air.

Westlake Legal Group g-6-300x153 Endgame? Trump advisor Stephen Moore’s nomination to the Fed would be “very problematic,” says … Lindsey Graham Women Trump The Blog Susan Collins stephen moore Senate reserve republicans Lindsey Graham Joni Ernst Fed board   Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com 

Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat

Westlake Legal Group herman-cain-to-senate-gop-no-i-wont-withdraw-from-consideration-for-a-fed-seat Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat Trump The Blog stephen moore Senate seat reserve powell herman hearing Fed confirmation cain

Westlake Legal Group hc Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat Trump The Blog stephen moore Senate seat reserve powell herman hearing Fed confirmation cain

A growing headache for McConnell and maybe for Trump too. Actual headline from the Daily Beast this evening:

Westlake Legal Group hc-1 Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat Trump The Blog stephen moore Senate seat reserve powell herman hearing Fed confirmation cain

I think when Trump first floated Cain’s name for a Fed slot, he expected Senate Republicans would go along without a fuss. And why not? That’s what they almost always do, especially with presidential nominations. In fact, they just got done nuking a Senate rule that required 30 hours of debate for certain nominees, replacing it with one that requires two hours instead. It seemed like they were building a conveyor belt to streamline confirmation of Trump’s picks for key vacancies.

And then suddenly there were four Republicans hinting that Herman Cain’s appointment to the Federal Reserve was dead on arrival.

When Trump was asked whether that opposition would lead him to yank Cain’s nomination, he dodged. He didn’t strongly rebuke the idea but he hasn’t made any moves to throw Cain under the bus either. Instead he left the matter up to Cain, saying that it would be for the nominee to decide whether he wanted to withdraw. But that was risky: What if Cain refused? That would put McConnell and his caucus back on the hot seat in having to potentially embarrass the president by rejecting his nominee. But it would put Trump on the hot seat too by leaving him effectively powerless to yank Cain’s nomination now in the name of avoiding embarrassment. The whole reason populists like Trump is that he’s willing to fightfightfight the establishment; if Cain is willing to fight on against Mr. Establishment Mitch McConnell, how could Trump possibly stand in his way?

A confirmation hearing may be inevitable, then, with Democrats destined to air Cain’s #MeToo dirty laundry extensively and Trump-skeptical Republicans like Mitt Romney destined to scoff at his political independence from the president.

Cain, a former pizza executive and 2012 GOP presidential candidate, told The Wall Street Journal in an interview Wednesday that he is “very committed” to sticking to his potential nomination, saying, “I happen to believe that you need some new voices on the Federal Reserve.”…

Cain stood firm, telling the Journal on Wednesday: “I don’t quit because of negative criticism. I don’t quit because of negative attacks. And I don’t quit because several senators have expressed reservations about my qualifications.”

“What Kudlow was doing was giving me an out, and I appreciate that, but I don’t want an out,” Cain said. “You know that the president is a fighter, and Kudlow is a fighter. They might be getting a lot of blowback from some folks, I don’t know. But I don’t think they’re getting uncomfortable with it.”

He fights! And he’s being smart about broadcasting his commitment to seeing this through. Cain knows that the more public he is about wanting to battle for the seat, the more support for his nomination will grow among the grassroots right and the harder it’ll be for Trump to bow to McConnell’s wishes by yanking the nomination. For example, Cain has an op-ed in the Wall Street Journal today arguing that the Fed already has enough academics. What it needs, he says, is people who have firsthand business experience with markets who’ll know how to interpret the monetary signals they’re emitting:

The Fed still operates on the “professor standard,” enshrined with Bill Clinton’s nominations of pure academics. Their textbooks say strong economic growth, particularly strong wage growth, causes inflation, which Fed policy should temper. Both the Bush and Obama administrations perpetuated the professor standard, and both presided over income stagnation…

We need new voices at the Fed that understand stable money and know how to interpret important market signals—and that means breaking the professor standard. Monocultures tend to be fragile, but is the Fed so closed off that it can’t handle challenges to its models or the assumptions that feed them? So fragile it can’t consider that the economy is driven by production, not consumption, and that the dollar’s commodity value is important to the real investment that fuels production? I hope not.

Do you want more Ivory Tower eggheads on the Fed or do you want hardnosed business people who actually know what they’re talking about? Which sort of person should the Trump revolution bring to power? He’s making it awfully hard on the White House to cut him loose with arguments like that. And yet:

Not just Cain but Trump’s other nominee, Stephen Moore, is at risk. I’ve been thinking that the Senate GOP might try to split the baby in this case, rejecting Cain but confirming Moore as a sop to the White House. But that’s politically dicey too. Unless Republicans make a big show of the #MeToo concerns about Cain in voting him down, it’ll be hard to argue that he’s meaningfully less qualified for the position than Moore is. Remember that Cain was chairman of the Federal Reserve Bank in Kansas City years ago. Confirming Moore, a white candidate, but not Cain under those circumstances is … bad optics, shall we say. And given how badly Cain seems to want the seat, he might notice those optics and call attention to them.

Here he is on Fox Business, again playing to a Trump-friendly audience by vowing to fight for the seat. If I were a nominee for a Fed spot and one of the knocks against me was that I was too much of a crony for the president to be trusted with that role, I probably would have declined the invitation here to defend Trump on an unrelated, politically supercharged matter like Russiagate.

The post Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat appeared first on Hot Air.

Westlake Legal Group hc-300x159 Herman Cain to Senate GOP: No, I won’t withdraw from consideration for a Fed seat Trump The Blog stephen moore Senate seat reserve powell herman hearing Fed confirmation cain   Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com