This is a developing story. Return to this post for updates.
UPDATE 1
President Trump just put this out on twitter:
UPDATE 2My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes. Herman is a great American who truly loves our Country!— Donald J. Trump (@realDonaldTrump) April 22, 2019
Although it was very unclear as to how strong of a supporter of a true gold standard Cain would have been on the Fed, the very fact that he had in the past uttered the words "gold standard" was enough for the Keynesians and other apologists for the inflationist Fed to get their knives out and destroy the possibility of Cain sitting on the Fed.
UPDATE 3
I can't even imagine what clown Trump will nominate instead.
-RW
When he outlined why he bowed out the one that got me was "I would have to let go of most of my business interests." "I could not advocate on behalf of capitalism:"
ReplyDeleteWhat WOULD he have to advocate in its place????