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Herman Cain's Nomination To Fed To Be Withdrawn

After four Republicans defect and say that they will vote against the pizza magnate's nomination, it looks like it's bye-bye-bye for the nine-nine-nine guy

Oh dear. It looks like some members of the Republican Party actually have some semblance of care about this country.

Just when it was beginning to look like there was no move Donald Trump could make that was too buffoonish for Republicans not to line up behind, his nomination of Herman Cain to the Federal Reserve was tanked by four Republicans who indicated they would not support his nomination.

Senators Mitt Romney, R-Utah, Lisa Murkowski, R-Alaska, Cory Gardner, R-Colo., and Sen. Kevin Cramer, R-N.D., have come out in opposition to Cain's appointment, likely sinking his chances of confirmation by the Senate, since it's unlikely that he will get the support of Senate democrats.

Since Cain has yet to be formally nominated, he is expected to announce his decision to withdraw his name from consideration in the coming days, according to an administration official and a source familiar with the matter.

To date, conservative columnist Stephen Moore's nomination is still cruising along, though Moore is actually much less qualified than Cain (who served on Federal Reserve Bank of Kansas City in the 90s.), a fact that has not appeared to concern the Republican senators.

"I do believe in the importance of an independent Fed," said Moore, a former CNN analyst. "I think it can be divorced from politics."
[..]
In December, Moore blasted Fed Chairman Jerome Powell and other members of the board for raising rates at the end of the year, saying they "should be thrown out for economic malpractice" and going so far as to suggest that Powell -- who was appointed by Trump -- should resign. Moore later told Bloomberg that his comment was most likely made "in anger."

Democratic House Speaker Nancy Pelosi urged colleagues Thursday to vote against Moore's and Herman Cain's nominations to protect the independence of the institution, calling them "ill-suited" and "unqualified" and charging that they would serve as Trump loyalists.


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