A Distraction with the Central Bank

"There is no question that President Trump wants the long-term stability of the economy and the independence of the Central Bank is undermined, in order to improve his chances of re-election." Ron Wyden, the democratic leader of the financial Commission of the Senate, in the appointment of the right-wing conservative ideologues Herman Cain and Stephen Moore in the US Central Bank a clear choice of tactical maneuver and there is less and less, not alone. In particular, the choice of Cain on joins now Republicans. They fear his past.

Although several of the consultants discouraged, presented by Donald Trump last week, surprising the former Pizza Manager, as a candidate for the Board of Directors of the Federal Reserve . And only shortly after Trump had already been proposed, with Stephen Moore, a professionally questionable Economists for a seat on the Board of Directors.

The two favorites to share with Trump some of the cloudy chapters of Life: Cain was accused by several employees of sexual Assault and brought in two of the cases, the women with comparison of payments to the Silence. Also Cain has a penchant for dubious transactions, he promises to be with his financial vehicles the easy money, and marketed as a sexual enhancer.

Moore's history is similar to dark. The tax authority had to open up because of fraudulent deductions of child support payments a judgment against him, and for failure to make payments to the divorced wife and the children, a court issued an order for payment of more than 330'000 dollars.

Professional qualifications? Irrelevant

Such details Trump seem to be worth a recommendation. He introduced the two candidates, without the closer examined. The Omission of the usual background checks, violated not only a proven Tradition, but allowed the two also, contrary to the obligation to withhold permanently on the TV and on Facebook to act, and to the President their total political loyalty. This is exactly what Trump calls. The professional qualification is obviously irrelevant.

It was hardly ever an Economist with his analysis so far and so regularly in addition, as Moore. And no other candidate proved less of a political and economic Knowledge as Cain in the 2012 presidential campaign. Although Cain has some experience with the Central Bank. He sat for some years in the Board of Directors of the Fed's branch office in Kansas, but reports from former employees that this authority had only formal tasks and no technical knowledge required.

"Cain is far too biased to take on such a task." the Mitt Romney , a Republican Senator for Utah,

he and Moore Should be in spite of the reservations selected, they were only two of a total of twelve votes on the Federal Reserve Board. How much influence could they have, is open. "You have to convince your colleagues that your ideas of the help money the Central Bank, to achieve the objectives of full employment and stable prices," says the former Vice-President of the Central Bank, Don Kohn. "But this requires a strong economic and research-backed analysis capability."

Just because the Republicans are now starting to doubt. "The White house has to involve the Senate earlier in the process," says Senator John Cornyn, "otherwise such candidates will not be confirmed." Senator Mitt Romney is afraid of the independence of the Institution. "The Central Bank must be impartial. Be required professional, economic people. Cain is far too biased to take on such a task."

to Provoke, as in the case of Kavanaugh

the choice of Trump Should fail favorites actually, this would be a remarkable turnaround in the relationship between the President and the party. It would be the first uprising of the Republican senators, after you have had all nominations waved on through. That would be Trump, but not inconvenient, as quoted by the "New York Times" a Familiar of the President. Trump count outright on a public payroll-as in the election of Federal judges Brett Kavanaugh. Trump won the show and the media and was the conservative judges, even though he was burdened by severe suspicion because of a rape.

the polls confirm today that Trump consolidate its electoral base and more than 90 percent of the Republican voters could flock. The provocation by the Duo of Cain/Moore, according to insiders in the White house another target: Trump wool distract from the Plethora of investigations by the Democrats against him.

(editing Tamedia)

Created: 11.04.2019, 08:52 PM