Bloomberg News/Landov Larry Kudlow, director of the White House National Economic Council.
The White House is talking to other possible Federal Reserve candidates, even as the Trump administration stands by its two picks for the U.S. central bank, Larry Kudlow said Tuesday.
Kudlow, the National Economic Council director, told reporters outside the White House that the administration is still backing Herman Cain and Stephen Moore.
Politico reported earlier Tuesday that other candidates for the Fed job are being interviewed and considered. Asked for comment on this report, Kudlow said: “We’re talking to a number of candidates, we always do.”
Enough Senate Republicans have expressed opposition to Cain that it seems his nomination cannot succeed. But Politico reported that President Donald Trump has yet to full move off the idea.
Separately, a group of over 100 conservatives tried to rally support for Moore, a former Wall Street Journal editorial writer. They released a letter of support Monday signed by, among others, Steve Forbes, the Forbes editor-in-chief, and Manley Johnson, a former Fed vice chairman.
The letter says simply: “We, the undersigned, support Steve Moore’s nomination to the Board of Governors of the Federal Reserve.”
Kudlow said that the White House still supports both nominees. The administration has not sent their nominations to Capitol Hill leading to speculation they will never be formally considered.
“Herman’s going through the vetting process for now, that’s where we are on that,” Kudlow said. It is up to Cain what happens after this process is complete, he said.
Since last summer, Trump has expressed undiminished frustration over Fed interest-rate policy. Over the weekend, the president said in a tweet that the Dow Jones Industrial Average would as much as 10,000 points higher if the Fed