International Monetary Fund warns of 'dangerous' results as Trump criticises Fed

Trump stands by controversial Fed pick Herman Cain

During his first 18 months in office, Trump relied on Treasury Secretary Steven Mnuchin and other economic advisers to pick Fed nominees, but he has wrested control of the process in recent months after blaming Mnuchin for steering him toward Jerome Powell as Fed chairman.

President Donald Trump on Monday urged the Federal Reserve not to raise interest rates, but Fed officials are widely expected to do so this week despite the president's ongoing public effort to dissuade the USA central bank from putting any brakes on the economy.

"Undermining central-bank independence would be risky", Tobias Adrian, director of the fund's monetary and capital-markets department, said when asked about Mr Trump's recent criticism of the Fed.

"Trump tells colleagues that" I've told my folks that's the man".

Neither Moore, a former leader of the Club for Growth, nor Cain, a 2012 presidential candidate, has been formally nominated. Cain's bid for the White House in 2012 came to a halt after two women claimed Cain sexually harassed them when they worked for the National Restaurant Association, where Cain was president and CEO.

Trump has jawboned Fed officials and pushed them to slash interest rates and flood the economy with cheap money, even though during his presidential campaign he accused the central bank of creating a "big, fat, ugly bubble". Both Fed choices have been met with "heavy public scrutiny", said Paul Kiernan, also at the Journal.

"If I had to vote today, I couldn't vote for Herman Cain", said Cramer, a Trump ally. "Herman is a great guy and I hope he does well".

Tiger uninjured after security slips into his ankle
McIlroy played the par 5s in even - two bogeys, one par and an eagle on No. 8 that got him under par, but only briefly. Oosthuizen posted the second-lowest number in round two - his 66 improving on the scores of Molinari and Day by one.

Top Trending Stories: First Ever Image of a Black Hole
The world is finally about to see a black hole - not an artist's impression or a computer-generated likeness, but the real thing. In 2016, Bouman was one of the lead researchers at MIT who managed to code an algorithm that could connect the required data.

NYC Mandates Measles Vaccinations; Merck (NYSE:MRK) Is The Exclusive Manufacturer
Mayor Bill de Blasio: The only way to stop this outbreak is to ensure that those who have not been vaccinated get the vaccine. Most of these cases were found in unvaccinated or partially unvaccinated people, a majority of whom are children.

AGF Chief U.S. policy strategist Greg Valliere also told FOX Business he thinks all of this talk about the Fed losing its independence is "overdone".

Cain served in a variety of Federal Reserve roles in Kansas City between 1989 and 1996. 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.

A number of Democrats have criticized Cain's qualifications more generally, and Senate Minority Leader Chuck Schumer said he didn't know of any lawmaker in his party who would vote to confirm Cain.

But he stressed that the White House needs to consider two factors in its nominations: the individual's background check, as well as his or her prospects of getting confirmed in the Senate.

Moore, and fellow Trump nominee Herman Cain, a former restaurant chain executive, are battling for the two vacant seats on the Fed's Board of Governors, positions that would give them a say for years on interest-rate policy and bank regulation.

"I just don't think of it", said Mary Daly, president of the San Francisco Fed, in an appearance last week on PBS NewsHour.

Related news:

Hot News

isis-killer-beheading-video-story-top MCCARTHY: Tiger needs new strategy for 5th hole on Masters Sunday
Apr 15, 2019 - 01:20
Another shot behind was Brooks Koepka , who has won three of the last six majors and had a 69 despite four bogeys. Augusta National was in a forgiving mood during a picturesque, birdie-filled third round of the Masters .

isis-killer-beheading-video-story-top With Luke Walton Out, Here’s Frontrunner For Lakers Head Coaching Job
Apr 15, 2019 - 01:14
Walton joined the Lakers with fanfare in 2016 after his successful tenure alongside coach Steve Kerr with the powerhouse Warriors. Walton replaces Dave Joerger, who was sacked on Thursday after he compiled a record of 98-148 with the Kings.

isis-killer-beheading-video-story-top Highlights from The Mandalorian at Star Wars Celebration
Apr 15, 2019 - 00:57
The two creatives explained that they met when making Iron Man and Clone Wars , both being the first to see the other's creation. When the mission is over, this wonderful kids' buildable toy also makes a great centerpiece for any LEGO Star Wars collection.

isis-killer-beheading-video-story-top Julian Assange: U.S. politicians react to arrest of WikiLeaks founder
Apr 14, 2019 - 01:56
According to the court, the United States has until 12 June to submit all the papers necessary for extradition. He will be getting the same treatment that any other Australian would get in circumstances", Morrison said.

isis-killer-beheading-video-story-top Prosecutors to meet with Bezos in extortion probe
Apr 14, 2019 - 01:28
The Bezos attack also threatened to upend American Media's non-prosecution agreement with federal prosecutors. AMI has defended its reporting on Bezos' affair with Lauren Sanchez, a former television anchor.

isis-killer-beheading-video-story-top At U.N., Pence tells Venezuelan ambassador: 'You shouldn't be here'
Apr 13, 2019 - 07:53
Late February ostensible aid convoys endorsed by Washington attempted to smuggle cargo into Venezuela across the border from Colombia.

isis-killer-beheading-video-story-top Was Pelosi Mocking Ocasio-Cortez?
Apr 13, 2019 - 07:52
Kerry responded that "we are complicit" as long as nothing is done to stem climate change. Another witness, former Secretary of Defense Chuck Hagel said, "Yes".

isis-killer-beheading-video-story-top SpaceX Falcon Heavy rocket’s Arabsat-6A satellite launch was a success
Apr 13, 2019 - 07:41
The satellite is created to provide television, internet, telephone, and secure communications to customers in the Middle East. Lockheed Martin built the satellite, along with a second one, for Arabsat as part of a batch of contracts worth $650 million.

isis-killer-beheading-video-story-top Disney+ looking to land on Nintendo Switch
Apr 13, 2019 - 07:40
Other titles including Thor: Ragnarok , Black Panther and Ant Man and the Wasp will be available within year one of the launch. But the information shared by Disney does make for some interesting developments in the ever-expanding streaming space.

isis-killer-beheading-video-story-top Fisher-Price recalls nearly 5 million sleepers linked to 30 baby deaths
Apr 13, 2019 - 07:26
The American Academy of Pediatrics called for the recall and called on parents to stop using the sleepers. Consumers are advised to contact Fisher-Price online or by calling 866-812-6518 between 9 a.m. and 6 p.m.

isis-killer-beheading-video-story-top Ibn Auf steps down as leader of 'transition' in Sudan
Apr 13, 2019 - 07:15
That has raised concerned it could disperse the giant protest at the gates of its headquarters by force, sparking new violence. Thursday's announcement meant "we have not achieved anything", said another protester who gave his name only as Adel.

isis-killer-beheading-video-story-top Child pushed from third floor of Mall of America, suspect in custody
Apr 13, 2019 - 06:48
Police do not believe there was any connection between Aranda and the five-year-old boy, nor between Aranda and the boy's mother. Officers gave first aid but the 5-year-old child suffered "significant injuries" and had been taken to a hospital, Potts said.

isis-killer-beheading-video-story-top 'Butcher of Darfur' Omar al-Bashir forced from power in Sudan
Apr 12, 2019 - 02:38
For the first time on Monday, leaders of the protests called for the military's leaders to abandon the president. Despite the ICC indictments, Bashir had regularly visited regional countries and also Russian Federation .

isis-killer-beheading-video-story-top Lok Sabha 2019: With 2.97 crore voters, Telangana all set to vote
Apr 12, 2019 - 02:35
Union ministers V K Singh and Mahesh Sharma are BJP candidates in Ghaziabad and Gautam Budh Nagar, respectively. In Telangana, almost 2.97 crore voters will decide the fortunes of 443 candidates in the single-phase polling.

isis-killer-beheading-video-story-top Trudeau broke law by kicking former ministers out of caucus, Philpott says
Apr 12, 2019 - 02:31
The prime minister is doubling down on his threats to sue the Conservative leader over comments he made about the SNC-Lavalin affair.