Warren demands answers from potential Fed picks Cain, Moore

Greg Nash

Sen. Elizabeth Warren (D-Mass.) is asking Stephen Moore and Herman Cain to explain past controversial statements ahead of their potential nominations to the Federal Reserve Board. 

The 2020 presidential candidate sent a letter on Friday to both Cain and Moore saying she has “strong” and “significant” concerns about them joining the Fed board after President Trump floated them as people he intends to nominate. 

{mosads}Warren, in her separate letters to the two men, argued that they both have a “history of forming views on policy based on political loyalties.” 

“These and many other statements … strongly suggest that you lack the capacity to exercise the seriousness, care, consistency, and political independence expected of members of the Board of Governors by policymakers and the American public across the political spectrum,” Warren wrote to both Cain and Moore.

Trump has floated both Moore, a former economic adviser to his 2016 campaign, and Cain, a 2012 presidential candidate, for the Federal Reserve Board — decisions that caught GOP lawmakers flatfooted and have sparked some pushback on Capitol Hill. 

Four GOP senators have said they will oppose Cain, who is reportedly considering withdrawing his name from consideration. 

Warren, a member of the committee that would be tasked with evaluating their nominations, is asking both Cain and Moore to explain a litany of previous statements by April 29, the day the Senate returns from a two-week recess. 

For Moore, Warren wants him to explain his views on the gold standard, previous comments on full employment and his 2016 claim that he is “not a monetary expert.” 

She also wants Moore to answer if he believes a president can fire a Fed chair because of policy disagreements. Trump has sparked backlash, including from GOP allies, over reports late last year that he was discussing firing Federal Reserve Chairman Jerome Powell. 

“I am concerned that some of your public statements demonstrate a carelessness with economic facts that could negatively affect the economy if you were confirmed,” Warren added in her letter to Moore. 

For Cain, Warren wants him to explain his position on the gold standard, full employment and his role in the America Fighting Back PAC. 

“I am very concerned, based on a number of your actions and statements in recent years, that, if confirmed, you will form opinions on policy based not the national interest, but on an intense loyalty to President Trump,” she added. 

Tags Donald Trump Elizabeth Warren
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