so that's herman cain.ination goes through, the economy will be in the hands of a president who has bankrupted casinos and a pizza guy who wants to bring back the gold standard. but don't worry, folks, everything's going to be fine, fine, fine! we'll be right back! ( cheers and applause ) ♪ therthen he tried tostitoshael scoops and salsa... and he started following them in real life. ♪ hey, mike. sup. oh! tostitos. get together already. [ phone ringing ] why are wake up!at work? stay awake when i call. am i being unreasonable? [ muttering under breath ] [ screaming ] you went to bed grown and then you woke up a child again. can you help me?! well yes i can. yes i could... ok stop it. i'm not following your instructions anymore. think you're the boss of me? ok see i've been looking at you like a little girl, but you a grown ass woman. who's the boss now?! yes! ♪ahahahahaha. hahaha. discover the rainbow! taste the rainbow! ♪ ♪ microwaves come into play here? can openers. microwaves. there's no place for those

for herman cain.we have that with stephen moore? michael: not yet. stephen moore has its own problems. you had cnn publishes a story of him disparaging women in the workplace. does that disqualify him, or does the fact that herman cain withdraws make republicans more determined to nominate at least one of the president's choices? the problem with both is the president said he wanted to appoint them before they went through the vetting process. there are always problems in the vetting process. david: somebody has to talk about trial balloons. there are trial balloons to float without the person. caines --ermann herman cain's balloon got popped very quickly. michael mckee -- david: michael mckee. live from new york, this is bloomberg. ♪ david: this is balance of power on bloomberg television. i'm david westin. for first word news, we go to rig a group that. lankan yuansri ambassador is cautioning sri lankans overseas to use social media responsibly. in the wake of the easter bombings in the country. the

so that's herman cain.n goes through, the economy will be in the hands of a president who has bankrupted casinos and a pizza guy who wants to bring back the gold standard. but don't worry, folks, everything's going to be fine, fine, fine! we'll be right back! ( cheers and applause ) there's a lot of stuff michael follows online. then he tried tostitos scoops and salsa... and he started following them in real life. no! ♪ and kept following... ♪ everywhere. ♪ wow, okay. boundaries, michael, boundaries. hey, mike. sup. oh! tostitos. get together already. millerwith great tastebrewed and only 96 calories. now that's a combo. miller lite. hold true. ♪ the chicken always seems to bpeople love it.e. you're not pulling it out of a box, you're making food! yeah. i like being able to pride in my food and pride in my work. you get to walk right in and you see me making your chicken. this is gonna be in your bowl. this is it! this is it! this is it. didoh please. he justl of that sex popped out of you.my child? i'm sur

>> herman: right.t steve and i do not know is how committed are they to this professor standard and the professor standard uses wage growth to determine if they need to try to call inflation. we don't know because we are not on the inside of the discussions whether or not there are other alternatives that are better predictive of not cooling the prosperity, commodity indexes, commodity prices. maybe we should be looking at that. now, maybe the fed is looking at that, but we don't know. i'm not going there to do any bidding for anybody other than the american people in this economy. because i understand that cascading effects of a movement by the fed to the banks, to the lenders, to the automobile people who need loans, house loans, et cetera. so i'm keeping all of that in mind, but not in something that i highly respect. >> neil: let me get your take on continuing the fight with the fed to come an uphill battle but have you talked to the president about it? or talk to any of his people, you know, pack

the president likes herman a lot.has ample experience in the federal reserve space being on the board of the kansas city fed but we're in the process now with every nominee that hasn't been officially sent to the senate of having them gather their paperwork and do it and send it up. i think that senators should wait until the nomination is sent and they get to see all the evidence before they make their judgment. connell: pointed out to kevin, blake, they're not waiting. four senators against him. is this over? >> the senate math would say it is over. do the math, 53 republicans no democrats support him that would bring it to 49. one thing keep in mind kevin hassett alluded to he hasn't been nominated. herman cain has not been officially nominated. steve moore has not been officially nominated. the nomination is not official. getting ducks in a row. let's wait. if you look at the math it is not good for herman cain. you have to ask whether the nomination goes forward. when i asked the president over here on the south

that leaves open number, herman cain did you not have support in senate.id it gets to a -- i a if it ga point where he does not go forward who else? >> it appears from their statement they hope that herman cable gracefully bow out. if not him, my ideal person would be david malpass, but he was confirmed for world bank position, he jumps out, and also man legionmanly, johnson. he would be interesting name to resurrect in all this. blake: when you talk about fed -- st. louis fed said sending a grim signal about future of the economy. look at what is going on with housing . in this case, housing is a driver of economic prosperity, we consume housing it is our investment that give us finds to buy houses. i am st. louis fed has backwar backwards. economies go to downturns periodically. i would not rely too much on the predication of one central bank. blake: john tomne thank you. >> thank you. >> and bernie sanders pushing a wealth tax, his answer when asked if he would voluntarily chip in. >> and more measles outbreaks. more cases revealed today. ♪ limu emu & d

you for herman cain. president trump dropping his plan to nominate cain for the federal reserve board. naming mcgill patrizio as ceo. ?ill the shakeup pay off blood sport on wall street. we explore how hedge funds may be pressuring companies to default. all that in the next 30 minutes. taylor riggs is with us halfway into a quiet trading day. taylor: it's been quiet, light volume, a little bit of a reversal. we were looking at losses but now we are looking at gains. the tech sector was the upper former. nasdaq 100. some of the faang stocks. course, it is all about oil today, up almost 3%. now we are looking at sanctions on countries that want to buy oil from iran. we have a full v-shaped recovery here. rebounding about 3% for the year. lower prices at the pump, but want to be top on iran, so today we are getting higher prices. see what that is doing to the energy stocks we've been following from a oil companies do offshore drillers, refiners. we were looking at some of the offshore drilling companies like

he said herman will make that determination.ems as if they're putting the ball in his court at this point, neil. >> neil: thanks, blake. let's go to gary b. smith on this, lauren simonetti and stanford university, david dotson. i'm looking at this, lauren, and i'm thinking it opens -- certainly there can't be two rejections of trump appointees. so does it approve his odds? what do you through? >> for me, seems that herman cain is out because there's a character question, a political question a policy question. is he smart? is he herman cain, an american success story? yes. but he has other issues that go against him. this could be a win for stephen moore. we'll see. he has vowed to make jay powell the most successful chairman ever. >> neil: dotson, your read on this. back in the day with franklin roosevelt, there was criticism that he was trying to stack the supreme court. is donald trump trying to stack the federal reserve? >> it's every president's god-given right to stack the fed or whatever they want. they get to do that. fo

he wants to name herman cain to the board despite his controversial history. >> 9-9-9 means jobs, jobs jobs. that's what i'm talking about. >> becky, becky, becky. >> i believe these words came from the pokemon movie. >> all shucky ducky. >>> we have breaking news. we have a battle between president trump and joe biden that is escalating by the minute. the president going after biden this morning after he was leaving the white house and the former vice president appearing in public for the first time since the controversy over his behavior erupted a week ago. >> i want you to know i had permission to hug lonny. i don't know. [ applause ] any way. >> joining me now nbc white house correspondent kristen welker. you were out on the south lawn when you were asking the president today about this twitter war that erupted yesterday between him and joe biden. the president launching this by taking a parody that had been done by a prolific alt-right youtuber mocking biden by taking his own video he put out and twisting it. we'll show is that in a moment. the president tweeting it out. biden twe

the problem that steve and herman are having, the federal reserve board now consists of academics.t are very well-read. they've got ten degrees from the best institutions. they're basically academics. you don't have the pro growth business input on the federal reserve board. the president, because he understands that kind of input, that's his background, he would like to see that on the federal reserve board. i'm absolutely supportive of this. i think steve and herman would be spectacular to the board. >> he's had a devil of the time getting acting secretaries and act judgeships through. might be because they weren't thoroughly vetted. mitch mcconnell said when it came to the case of these two federal reserve appointment picks that could have benefitted from more vetting, impair phrasing. but what is it here? that's a log jam there. >> there is a log jam. but part of it is vetting. i think the president -- if the president thinks somebody would be good in the position, he will support them as strongly as he can. you'll still have weak-kneed republicans. that was the case in my case

herman cain and stephen moore for spots on the fed. the nominations have not been made.o come. herman cain pulled out and lucky, privileged, honored to have four accomplished ladies at table when stephen moore says it's a spoof that he says why would you want equal pay for inferior quality basketball? there should be no women involved in march madness. if you read this reporting and you should that all female reporters should be banned from basketball except for one if she wears a halter top. >> it's almost as funny as someone who has the tax problems that stephen moore does to be nominated to be on the federal reserve. i mean, it real -- it's just so funny. it's like women. >> for a spoof, it's really unfunny to be honest, and he actually commented in one of -- in the story that women had written to him to complain about his columns and he basically brushed it off. he didn't tell them that it was a spoof at the time, but this is just a spoof of a larger problem for this white house. this is a president who finds his best advisers among the people who gain attention for

athena jones is outfront. >> i like herman cain, and herman will make that determination. >> reporterorters' questions about his federal reserve pick, herman cain, while professing to know nothing about how the confirmation battle is unfolding. >> as to how he's doing in the process, that, i don't know. you go through a process, but herman is a great guy and i hope he does well. >> reporter: this, despite a growing kesh on capitol hill from trump's own party about cain's history and fitness for the job. senate majority leader mitch mp mcconnell playing it cool. >> we're going to look at whoever the president sends up. it's his choice to decide and once he makes a nomination, we'll take a look at it. >> reporter: sources say behind the scenes he's advising senators to make their concerns known to the white house before trump formally submits cain's nomination, to avoid a public fight. why the concern? for one thing, lawmakers worry cain's closeness to the president, who has called cain a friend and a very terrific man, could weaken the independence of the fed, the most powerful central

for his part, yes nominated herman cain to the fed board and stephen moore. he will have two voices should they ultimately received confirmation. that is still unknown if they get that confirmation in the senate. should they get those confirmation, he will have two allies on the central bank floor. david: he has other work to be done with the chinese central bank situation. -- the chinese trade talk situation. still in town, still wrapping trade talks with robert lighthizer and steven mnuchin. they had made progress yesterday, but speaking earlier today president trump said he would not predict an ultimate deal between the u.s. and china. he also signaled that when he does meet with president xi jinping, wherever that might be, it could be as soon as a few weeks, that it would be to finalize the deal. we know the u.s. and china are talking about china purchasing the commodities, enforcement mechanisms, including lifting some tariffs but keeping some on to ensure china continues on that front and to allow the u.s. to make purchases of chinese firms. to ourthan

also tonight, herman cain, herman cain's nominationing to join the federal reserve may be hanging bya thread tonight. and that might be because of george will's column in the "washington post"ing this morning that blasted the herman cain nomination and president trump's other selection for the federal reserve. george will join us because his column could be what turns out to be the decisive blow in possibly ending both of these nomination in the trump administration. but first, tonight, deputy attorney general rod rosenstein is trying to repair the damage from attorney general william barr's performance in the two days of hearings in the house and senate. in an exclusive interview with the "wall street journal" justice department reporter, rod rosenstein defended attorney general barr saying he's basically as forthcoming as he can so this notion he's trying to mislead people i think is bizarre. rod rosenstein would not comment about the remark that the attorney general made yesterday in which he used the word spying to describe what the attorney general believes the fbi did to the tr

herman cain had said earlier it was cumbersome and i will correct myself -- it is to replace the hermand stephen moore. thanks for a much. this is bloomberg -- thanks very much. this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. we want to come back to a story that was crossing the bloomberg as we went to break. there are reports the white house is interviewing candidates to replace herman cain and stephen morris potential nominees for the federal reserve . we know the president had stuck by them and we know esther kane said it was come -- we know herman cain said it was cumbersome to get confirmed. it turns out the white house is actively interviewing possible candidates to replace both of those potential nominees for the fed. republicansime, the promise their tax reform package would make it possible for most of us to file our taxes on a postcard. putting aside how many of us realize that dream yesterday, one way of simplifying things may be headed for extinction before gets born. we welcome laura davison coming from washington. welcome, good to have you.

he spoke with bob cues act up the hill earlier today. >> we talk to the republicans who say that herman cain cannot get the votes to serve on the fed board, as the ministration is standing by, is the demonstration standing by herman cain? >> we are at the moment. >> at the moment? >> he is in the vetting process. >> the paperwork has not yet gone? >> his paperwork is income he's being looked at by the fbi. >> -- >> that is correct.

herman cain. here's the president's take on herman cain. >> herman is a wonderful man.s been a supporter of mine for a long time. herman is already sat on one of the fed boards. and he's just somebody i like a lot. >> but that's not the view from even his own party on capitol hill right now. four republican senators are now coming out to say they will vote no on cain's nomination if it came before him, effectively sinking his chances. the reservations surround past allegations of sexual harassment and that he's too partisan for the post. that's not all. example after example of republicans saying no. the top republican mitch mcconnell telling trump he made it clear to the president despite what the president wanted, republicans were not going to take up that debate. chuck grassley coming out against the staffing purge at the dhs, saying the president was pulling the rug out from the people trying to help him. and a dozen republicans voted against president trump's national emergency declaration over the border. what is going on here? a blip or have republicans been push

recommended herman cain is a very all right for more let's cross over to our frankfurt stock exchange correspondent john l. don't allow a gentle what more do we know about herman cain how to refrig would he be on the fed board. well there is definitely some concern here that is terrific qualities may have been oversold the sexual harassment allegations are only part of it but his a past policy record has been somewhat confusing he's advocated for example for a return to the gold standard of all things and his past tenure as kansas had a very he was known as a hawk meaning that he favored low inflation and higher interest rates since then and he seemed to have moved over to president trump's way of thinking president trump of course known for attacking the fed for raising interest rates and that is going to be the biggest issue here people worry that his appointment is a sign that this is a further way of donald trump trying to walk under undermine fado policy in order to just provide himself with some short term economic gains i would have people in frankfurt and in europe as a whole

. >> herman cain's whole campaign was 9-9-9, the most crazed economic policy. you're going to put him on the fed? >> i like the shucky ducky. that's good. >> that's on chuck todd now. my thanks to the panel. that does it for us. thank you very much. mtp daily starts now. >> just remember, donald trump has lived his whole life in search of cheap credit. >> shucky ducky. >> why should he change now? thank you, nicole. >>> if it's friday, the frontrunner speaks. >>> good evening, i'm chuck todd in washington. welcome to "meet the press daily." we have a big one tonight. looking at live pictures of the president at the border about to tour a section of renovated wall. we are going to get to the border visit and his latest threats in a minute. you won't believe how many threats he's made just about the border just in the last few months. we'll begin with the democratic front runner, joe biden, speaking tofo the first time thr year. he had a lot to say about everything from the allegations of inappropriate physical contact to his view of the democratic party, donald

the determination of whether his nomination is safe is up to herman cain.sn't sound like a ringing endorsement. do you know anything we don't know about that nomination >> we're very early in the nomination process and the president said today he likes herman cain. he's got a background in business and was a governor in the federal reserve and has that background and he and stephen moore both are people that really understand what the president's philosophy is in this economy, but we'll see how it plays out. >> so many things that i want to try to get through so buy backs and capitol spending i'll combine the two capital spending, would you say it's been satisfactory in terms of what we were hoping for with tax reform a lot of people say it's ramping up slowly. others say that there's -- they don't like buybacks. i'm not necessarily in that camp and maybe we should induce maybe tax and dividends so that companies aren't more prone to use the cash for buybacks, they use it for capital spending. >> i got to be honest with you, what the american people have id

herman cain was not a president?in may abbeysman and what does he have to do with military issues ? what can he do with the border? he can advise. 999, it's not a joke. this is a real issue affecting americans and affecting people in mexico and affecting people who are even coming from other countries going through the mexican bothered trying to get here. this is a real issue and it's not a joke. >> kate bent, there's a read. it's real interesting in "the atlantic," ivanka trump, first quarter and special adviser and this is what it says the founding myth of ivanka trump is that she is a moderating force, so react to that. this is the idea. they are saying actually this is a myth. describe her role at the white house and also maybe how it's changed. >> well, i think what she first got to the white house she thought she would do big things and people put that label on her that she would be a moderating force and what we've learned and what the story points out is there's no real evidence of that. the paris climate acc

the president had been enamored of herman cain for months. having a meeting in the situation room with generals and other military officials about the mexican border and heard herman cain was in the white house, he said "send him down." herman cain comes into the situation room and the president says to the military leaders, you need a 9,99 plan for the bored are a border and we heard the joke fell flat. >> you, too, can read the newsletter. that does it for me on this friday morning. "morning joe" starts right now, everybody. >>> i don't know anything about david duke. i don't know what you're talking about with the white supremacy or white supremacist. i know nothing about these people. i know nothing about wikileaks, it's not my thing. >> he knows nothing about david duke, who praises him online, he knows nothing about far right em

herman cain, former presidential candidate, the president says he wants to appoint him to the federalreserve board. how is he qualified for that job? >> well, you know, besides being a successful businessman, which is very important, you know, there was a time in the fed, i started my career a long time ago at the new york fed. in those days, you had farmers on the board, business men and women on the board, small bankers. it wasn't all economists. okay. so that's one point. second point, specifically, herman ca n for many years was on the board of the kansas city federal reserve bank. >> brennan: in more of a civic role. and sairnlgt allegations derailed his presidential campaign. >> he was chairman of the kansas city fed. he is there for intimately acquainted with fed operations and awant to make this generic point, people say this is political. i don't think it's political. there may be a boll si difference. we believe, the president believes, you can have low unemployment and a strong economy as we are having. the numbers came out great on friday, without inflation, without inflat

. >>> president trump wants former pizza mag nate herman cain, while his own checkered history could a problem for this. reality check is next. ♪ when heartburn hits, fight back fast with tums smoothies. it neutralizes stomach acid at the source. ♪tum tum tum tum smoothies. also available tums sugar-free. -jamie, this is your house? -i know, it's not much, but it's home. right, kids? -kids? -papa, papa! -[ laughs ] -you didn't tell me your friends were coming. -oh, yeah. -this one is tiny like a child. -yeah, she is. oh, but seriously, it's good to be surrounded by what matters most -- a home and auto bundle from progressive. -oh, sweetie, please, play for us. -oh, no, i couldn't. -please. -okay. [ singing in spanish ] cancer, epilepsy, mental health, hiv. patients with serious diseases are being targeted for cuts to their medicare drug coverage. new government restrictions would allow insurance companies to come between doctor and patient. and deny access to individualized therapies millions depend on. call the white house today. help stop cuts to part d drug coverage that put medic

people know who herman cain is.hat's completely different from trump's judiciary transformation. >> they have spoken out against the president but it's on issues that their voters would not be irked on like jamal khashoggi. that story is not resonating with their voters, it's not hitting their pocketbooks. i want to read something from "the washington post." trump recently gathered with generals and others, military leaders for a meeting about the mexican border. at the meeting, which was held in the white house, an aide passed trump a note informing him that cain was in the building. he summoned cain to the meeting and told military brass they needed to come up with a 9-9-9 plan for the border. referring to cain's tax plan. and the joke fell flat. so is this kind of a tendency within the white house and president as well that it's hard for them to read when the president is actually joking or when he has serious policy suggestions? >> that's a really good question. but i think the fact this anecdote leaked speaks f

herman cain? i just want to leave it there. herman cain? for federal reserve.nse for me. >> i worked for a candidate that ran in a primary against herman cain. the question is not in my mind herman cain's qualifications. he actually has been at a federal reserve bank. he understands the issues. the question is around the independence of the federal reserve. do we want the president to say, hey, fed, you gotta juice the economy a little bit. that's the challenge. >> and presidents have been frustrated with the fed forever. it's hardly new for a president to be frustrated. they don't generally respond in this fashion. >> well, the combination of the potential nomination of stephen moore and herman cain. lanhee would have freshman students in an economics class more qualified to be in those positions. >>> up next, the unlikely 2020 candidate who is earning his way to the debate stage with one big idea. andrew yang is here live. idea. andrew yang is here live. you know what's better than mopping? anything! at the end of a long day, it's the last thing i want to do.

krishna: if you want the fed to say 9-9-9, you nominate herman cain. to some extent it is basically demeaning the fed. it doesn't mean that you should not take input from the business community. the fed has very detailed processes to incorporate those points. but nominating herman cain to the fed, or for that matter, nominating stephen moore, where he has said so many bad things, i don't think is the right move. jonathan: i don't want to judge the intent of the administration. ultimately, the perception of this matters. if these guys get confirmed to the federal reserve, in your mind, has this federal reserve lost some form of independence? >> i don't know if i would go there from a policy perspective. saying they lost independence. you are seeing an analysis that the fed is doing. typically you have people studying economic cycles. you look at 2004, 2006, gauge the reaction function from the monetary policy side. 17 consecutive 25 basis point tightening's. i think this administration is putting people in play that have a business cycle viewpoint. that

he has been criticizing jay .owell who is herman cain? herman cain is an interesting guy.ed mathematics in college, went into computer science, became a systems analyst, went to work for godfather pizza, worked his way up and became ceo. --ran for president in sick ran for president in 2012. dropped out over sexual misconduct allegations. bottom line, he has a strong background in business. -- big supporter of president trump. set up a fund to protect him from impeachment, in fact. he has an understanding potentially of the federal reserve system and how it works. here is what donald trump said in a press conference earlier today about herman cain. >> i have recommended him highly for the fed. i told my folks that's the man and he is doing some pre-checking now, and i would imagine he would be in great shape. i find hermon to be an outstanding person, a truly outstanding individual. i would think he would do very well there. kathleen: we would assume he inld stay with donald trump keeping rates low. he has gotten a lot of criticism from even a republican economists, so whe

it is herman cain. he was the ceo the pizza company and ran for president and served on the board of the kansas city fed. herman cain reported to be the nominee by president trump to the federal reserve. live from new york, this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. we turn to for bloomberg first word news. isk: the justice department defending his handling of robert mueller's russia report after media reports that mueller's team wrote summaries they intended to be made public. the statement today's as every page of mueller's report was marked with a notice saying it may contain grand jury material that by law has to be kept secret. says thement also department is working with the special counsel to clear the report released to congress and the public. the 2020 democratic presidential race is getting more crowded. ohio democratic congressman tim ryan said he will seek is party's nomination to challenge president trump great he is a nine term congressman and has been

well, i like herman cain and herman will make that determination. herman is a wonderful man.been the supporter of mine for a long time. he actually ran a very good campaign. and that's up to herman. herman is, you know, he's already sat on one of the fed boards and he's just somebody i like a lot. as to how he's doing in the process, that i don't know. you go through a process. but herman is a xwrat guy and i hope he does well. >> have you ever thought about dhs secretary? >> steven is an excellent guy. he's a wonderful person. people don't know him. he's been with me from the beginning. he's a brilliant man and, frankly, there's only one person who is running it. you know who that is? it's me. >> have you seen the mueller report? >> i have not seen the mueller report. i have not read the mueller report. i won. no collusion. no obstruction. i won. everybody knows i won. and it was illegally started. the whole thing was illegal. i have not read the mueller report. i haven't seen the mueller report. as far as i'm concerned, i don't care about the mueller report. i've been total

i find herman to be an outstanding person, a truly outstanding individual. i would think he would do very well there. yes. reporter: is there still an imminent threat of you potentially closing the border? >> well, you know, mexico has been doing a very good job the last three or four days since we talked about closing the border which is very real, but what's more real initially is tariffs on the cars coming in, 25% tariff on the cars being made in mexico coming in. you know, mexico prior to my becoming president took close to 30% of our car business. that's a lot. it's a big, big chunk. they did that under nafta. i for years have been talking about it. i think nafta's one of the worst deals ever made, one of the worst trade deals ever made, maybe the worst, and mexico took a big chunk of our car business which i don't like, and i haven't liked and i have spoken about it long and hard, long before i became president, when i was a civilian, so to speak and i will say this, that mexico in the last four days has really done a great job on their southern border

>> herman has not come out only for the gold standard. me make a couple of quick points here because i think there's misinterpretation. number one, the dollar should be sound, inflation should be nil. here is the key point. we believe that strong economic growth does not cause inflation. we believe -- i've spent a career on this -- more people working and succeeding does not cause inflation. unfortunately many of the economic models used by the fastball and elsewhere, and i'm not here to pick on the fed's independence. they have a model called the phillips curve which says the lower the unemployment rate, the higher the inflation rate. that model has been disproven for decades. key fed people, spokes people in the fed themselves including jay powell says that model doesn't work. this is so important. president trump has every right to put people on the federal reserve board with a different point of view. you don't have to rush pell mel into tightened policy and raising rates just because the economy is growing. that's president trump's k

the president announced yesterday he plans to announce herman cain to the fed.s two weeks after he said he was going to nominate conservative economist steven moore. let's talk about the move. for me this is more about unpredictability at the fed. >> yeah. >> whether you like the fed or don't like the fed, they made mistakes. they're a slow and steady hand. >> one of the few. >> this takes us into reality tv territory. >> i have a piece on cnbc.com, it says let's face it cain ain't able. he's a successful businessman and a propoenent of the gold standard, which is an ar i couldic archaic idea. he adds a degree of unpredictability. this is really pushing it out further and endangering i think the economy. >> i think the two votes of the fed will not change things immediately. they will keep making the same decisions they've been making. what i worry about is the fed has to communicate with markets. it's very difficult. you can't tell markets what you're going to do. you have to telegraph it slowly in advance. every fed chair coming in gets it wrong for a bit befo

right now it was use and herman cain. >> i think herman cain is a great choice. >> they publicly saidare not voting for herman cain. >> look, both my choice and herman cain's choice was unconventional. we will be thinking outside of the box. >> you're a little bit more in -- >> 999 is a cool plan. >> you have to have all of the ph.d economists over at the federal reserve. >> you know breath of fresh air the chairman and the fed -- >> you're not being nominated to be the chairman. many of this. the gold standard, in the past you have talked about being -- >> this is about monetary policy, yeah, i like the idea he will oppose nafta. >> have you changed your views or modified them? >> so by the way some of those tapes are -- i still had dark hair. my position is i want to have a valid currency. my good friend steve forbes is on your show, big advocate, i don't think i would go for gold standard right now. i do want the dollar to be as good as gold. >> you understand why that causes concern? in terms of the independence from president trump. >> i don't think donald trump is for gold is. i

is the administration standing by herman cane? >> yes, we are at the moment. >> at the moment. >> at the moment, that's right. he is in the vetting process. >> paperwork has not yet gone. >> his paperwork is in. he is being looked at from the fbi. >> to the senate. >> that's correct. it will. >> so plan on moving forward with that. >> we have to start internally with the white house. that process is going on, and president said yesterday he continues to support it and we will see how that turns out. i don't want to prejudge it one way or the other. we have already in fact started consultations with senate banking committee. senator crapo is a good friend of mine. they will go through their process. i don't want to prejudge it. i know there are things about allegations and so forth. this town is full of allegations, sometimes they are true, sometimes they are completely untrue, as we have seen. i want to give him, herman, a decent chance to go through that process. >> is the vetting process undergoing the allegations from the four

sources tell cnn trump now won't say if herman cain's nomination is in jeopardy. >> i like him, and herman will make that determination. herman is a wonderful man, he has been a supporter of mine a long time. how he is doing in the process, i don't know, you go through a process. but herman is a great guy, i hope he does well. >> reporter: president trump in texas teased that his son-in-law, jared kushner, is working on an immigration plan that he's excited to release. moments ago, kushner and acting chief of staff mick mulvaney were on capitol hill, meeting with republicans and democrats on immigration related issues. it isn't clear yet what may come of renewed talks, wolf. >> we'll see fairly soon, i'm sure. thank you very much. >>> let's get more on all of this. democratic congressman steve cohen of tennessee is joining us, member of the judiciary committee. congressman, thanks for joining us. i want to begin with the attorney general's stunning admission today that he believes spying, spying, he used that word, did occur on the trump campaign back in 2016, although he wouldn't say whet

we already know that herman cain thinks interest rates should be. >> 999. >> 999. >> 999. >> herman cain012 presidential primary campaign after a brief surge at the top of the republican primary polls when he was credibly accused of having had a long-term extraction marital affair and accused of sexual harassment. those were the days when most republican voters cared. the only reason to nominate him to the federal reserve board now is to make the current trump nominee to the federal reserve look better. the president has already nominated steven moore who is on his way to a lot of trouble if he ever makes it to his not yet scheduled senate confirmation hearing because he is not an economist. he has only a master's degree in economics and you don't really qualify as a member of the profession without a p.h.d. in economics. now that his nomination provoked a closer look at moore's background, we know that court records show he is a deadbeat dad who failed to pay child support for several months and a tax cheat who when he did pay child support deducted it on his tax return which is complet

making headlines — it looks like former republican presidential hopeful herman cain won't be joiningthe federal reserve. us president donald trump was keen for him tojoin the fed, but he president donald trump was keen for him to join the fed, but he tweeted that herman cain had asked for his nomination to be withdrawn. shifting to south korea tech giant samsung, and the korean electronics giant has delayed the release of its new foldable smartphone. the move comes new foldable smartphone. the move co m es after new foldable smartphone. the move comes after a number of tech reviewers complained that this new expensive device kept on breaking. however, the bbc‘s technology reporter, chris fox, had no problems when he reviewed it. this is the samsung galaxy fold, the folding smartphone that samsung hopes people will pay £1800 for. not all analysts share his opinion, some complained about faulty screens after using the phone for as little as one day. earlier i spoke to jake saunders from abi research, and i asked him if samsung will regret rushing the phone out. foldable phones of the f

who can forget herman cane? he's accused of sexual harassment. what donald trump has asked him to do next. that's next. stay with us. . line line . here you go little guy. a cockroach can survive submerged underwater for 30 minutes. wow. yeah, wow. not getting in today. not on my watch. pests never stop trying to get in. we never stop working to keep them out. terminix. defenders of home. let's see, aleve is than tylenol extra strength. terminix. defenders of home. and last longer with fewer pills. so why am i still thinking about this? i'll take aleve. aleve. proven better on pain. >>> i recommended herman cain. he's a very terrific man, a terrific person. he's a friend of mine. i have recommended him highly for the fed. i told my folks that that's the man and he's doing some pre-checking now. i would imagine he'd be in great shape. >> that's called a vet. here's a reminder who herman cain is. >> do you agree with president obama on libya or not? >> okay, libya. >> oh, shucky ducky as the man would say. >> when asked who the president of you-bec

on that i'm joined by janelle to my loan was standing by adam from foot four what do we know about herman cain how terrific would he be on the fed's board. well i'll put it this way there seems to be a lack of nonpartisan voices saying that he would indeed be terrific and those sexual harassment allegations only form part of it in fact his past policy record would leave many shaking their heads he's once advocated a return to the gold standard for example and as in his past career at the council he was known as a hawk advocating against inflation and higher interest rates but surprise his views seem to have evolved to match those of donald trump you know that he's repeatedly attacked the fed for raising interest rates and this would be the biggest issue his appointment would be viewed as a further attempt by trump to influence fed voting and therefore monetary policy. ok so now it's the last trading day or week there's been lots of u.s. china there's been lots of breaks it has to be rounding out for investors. in the do there have been some market swings here trending more towards optimis

so he's throwing his support behind herman cain but also signaling that it's a choice for herman cain going here on forward as to his nomination and his status. liz: blake, thank you very much. blake burman. once again, we are looking at the s&p and the nasdaq, pretty much at session highs. we are keeping an eye on it for you, as the closing bell is 48 minutes away. speaking of the federal reserve, you had a whole line of bankers on capitol hill getting grilled, i know that's an overused word, but guess what? you're looking at live pictures at the moment, where every single one of them when challenged supported the federal reserve, some even saying jay powell was doing a fantastic job. by the way, these ceos taking very tough questions mostly from democrats on everything from america's capitalist system to high ballooning executive salaries and the wage gap. listen. >> discriminatory mortgage lending practices. in the time since, what tangible changes have you made to your bank's -- >> if you were an employee and you saw your boss making $486 for every $1 you made, how would you feel

. >> i recommended herman cane. he's a very terrific man, a terrific person. he's a friend of mine. i would think he would do very well there. >> this president, if herman cane and steven moore are confirmed by the senate would be reshaping the most powerful central bank in the world, reshaping it to his liking, away from peer review, academic ph.d. economists and toward men who know less about monetary policy but want the fed to support this president. what is the fed, an independent body maeneant to be the shock absorber of the u.s. economy, in charge of the printing press. two goals, maximum employment and price stability. supporting the job market and making sure inflation is not too high or too low that's very destabilizing. it's about making the economy good for american workers and american families. cane has some experience with the central bank. he once served as a director on one of the 12 regional fed bank boards, the kansas city fed. that's not an uncommon role for a business executive. that's typically where you see that kind of background. trump appointed jerome powell