Trump is turning the Fed nominations into his newest 'reality show' — and McConnell is letting it happen

Trump is turning the Fed nominations into his newest 'reality show' — and McConnell is letting it happen
Senate Majority Leader Mitch McConnell (R-KY, left) and President Donald Trump (right). Image via screengrab.

Herman Cain and Stephen Moore, Donald Trump's favorites to be new Federal Reserve governors, are doing their combined damnedest to make a farce out of the whole concept of presidential nominations. All the while, Mitch McConnell is standing by and letting it happen. Cain is using his sponsored email list as a "haven for scammy emails" and writing crazy political Facebook screeds and Moore is going on Sean Hannity's radio show and speculating with Trump's favorite that the Fed was "helping President Obama politically" and then tanking the economy to hurt Trump.

Normal nominees of normal presidents don't do this. As Tim Duy, a University of Oregon economist, says "There’s never been a reality-show Fed nominee, and that's what we've got now. [...] [normally], once you've been nominated, or you're about to be nominated, you go radio silent—and you go radio silent for a reason. You don't want to say things that jeopardize your chance of moving forward." But with McConnell at the helm, they don't really have to worry about their chances of moving forward. He's not going to stand in anyone's way.

At Tuesday's caucus luncheon, the topic of the nominations reportedly came up, "several" Republicans "questioning the wisdom of floating Mr. Cain and Mr. Moore without consulting the Senate first and before both could be vetted," according to a participant who talked to the Times. That person also reported that McConnell told the senators that if they had a problem with that, they should take it up with Trump.

"We've got to look at whoever the president sends up," McConnell told reporters Tuesday. "It's his choice to decide, and once he makes the nomination we'll take a look at it." Advice and consent? That's so 18th century. It's out the window, along with checks and balances. While the occupier of the Oval Office is a Republican, at any rate.


Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}