Kudlow defends Trump's Fed picks

Source: Politico | April 7, 2019 | Matthew Choi

White House economic adviser Larry Kudlow on Sunday defended President Donald Trump’s picks for the Federal Reserve Board, citing their experience and demurring on personal allegations.

“President Trump has every right to put people on the Federal Reserve Board with a different point of view,” Kudlow told CNN’s Jake Tapper on “State of the Union.”

Trump’s picks, Herman Cain and Stephen Moore, are strong allies of the president and have been the subject of criticism for unorthodox proposals.

Cain, a former restaurant executive and 2012 Republican presidential candidate, has called for a return to the gold standard and a 9 percent national sales tax. Moore, a tax-policy specialist, worked on Trump’s tax plan during the 2016 presidential campaign.

Cain’s proposal to return to the gold standard has been criticized as antiquated, but Kudlow said Cain’s main goal is to decrease inflation next to “nil” while encouraging economic growth.

“We have two open seats on the board. The president has every right in the world to nominate people who share his economic philosophy — that is more people working is a good thing, not a bad thing,” Kudlow said.

Moore has come under increased scrutiny for his personal finances, including owing the IRS more than $75,000. Cain drew scrutiny during his presidential bid when several women accused him of sexual misconduct.

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