Also under consideration for the board is Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, according to the people, who asked not to be identified discussing Trump’s private deliberations.
Moore advised Cain on his so-called “9-9-9” tax plan in 2011, which would have replaced much of the U.S. tax code with a flat 9 percent tax on sales transactions as well as corporate and individual income.
There are two vacant seats on the Fed board.
Bloomberg News previously reported that Cain, 73, was under consideration. Yet his nomination would raise the prospect of a Senate confirmation hearing focused on the sexual harassment accusations that ended his presidential campaign. While he remains in the running, there are concerns in the White House about whether he could clear the confirmation process, according to a person familiar with the matter.
Cain last September co-founded a pro-Trump super-political action committee, America Fighting Back PAC, which features a photo of the president on its website and says: “We must protect Donald Trump and his agenda from impeachment.”
He has had a long corporate career, and from 1992 to 1996 he served as a director of the Federal Reserve Bank of Kansas City, as well as deputy chairman and later chairman. He advocated for the U.S. to return to the gold standard during his presidential campaign and as recently as December 2017 defended higher interest rates, a position that contrasts with Trump’s repeated criticisms of the Fed last year.
This article was provided by Bloomberg News.