OPENSECRETS NEWS: Trump’s picks for Federal Reserve, Herman Cain and Stephen Moore, have long political history

Herman Cain

Over the weekend, White House officials doubled down on controversial plans to nominate two political allies of President Donald Trump to the Federal Reserve board.

Trump reportedly plans to nominate one-time pizza chain owner, political commentator and 2012 presidential candidate Herman Cain (above) and longtime conservative economic writer and 2016 Trump advisor Stephen Moore. Both would likely face contentious Senate confirmation hearings, as the two picks are proving unpopular on Wall Street and among economists. Both Moore and Cain have long histories in the intersection of money and politics.

The discussion of elevating Cain, who built a fortune as CEO of Godfather Pizza, to the Fed was surprising because of his history as a critic of the organization, including a suggestion that the U.S. return to the gold standard.

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