Top Senate Democrat Says Trump's Fed Picks Unqualified

Trump stands by controversial Fed pick Herman Cain

Trump stands by controversial Fed pick Herman Cain

"If Herman Cain were on the Fed, you'd know the interest rate would soon be 9-9-9", Romney said, referring to Cain's famous pitch for the presidential nomination wherein he promised a 9% tax on personal income, the federal sales tax and on the corporate rate.

House Speaker Nancy Pelosi on Thursday lambasted President Donald Trump's latest Federal Reserve picks, saying Herman Cain and Stephen Moore are "ill-suited", "unqualified", and the "worst" appointments the President could make. He will need to be confirmed by the Senate.

In his International Monetary Fund speech, the Treasury secretary also said that he doesn't see the US returning to the gold standard - an idea advocated by Cain and to a lesser extent, Moore.

A former CEO of Godfather's Pizza, cain, conducted for the 2012 Republican nomination but fell out after allegations of sexual harassment and infidelity.

Republicans have been "making a behind-the-scenes play" to get Trump to "back off" his nomination of Cain, Politico reported on Tuesday. Sen.

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"I like Herman Cain", he told reporters.

Trump said he wasn't aware of how senators feel about Cain. "As to how he's doing in the process that I don't know... Herman's a great guy and I hope he does well".

Treasury Secretary Steven Mnuchin also offered some support for the two potential nominees.

"I don't think there's any reason whatsoever to be concerned about the independence of the Fed", Mnuchin said. "He and Stephen Moore are people who really understand what the president's philosophy is in this economy. That's what he would be facing going into the process".

Moore's projections for US economic growth far outpace the 2% growth most Fed policymakers say is the economy's speed limit over the long term. "That does restrain growth".

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