Trump nominates a second gold-standard advocate for Fed

Section:

Trump Picks Herman Cain for Fed Seat

By Nick Timiraos and Alex Leary
The Wall Street Journal
Thursday, April 4, 2019

President Trump said Thursday he intends to nominate former GOP presidential candidate Herman Cain to the Federal Reserve's board of governors, signaling his desire to remake the nation's central bank after complaining about it for months.

The selection of Mr. Cain, following the president's decision to nominate his former campaign adviser Stephen Moore, marks an effort to install two Fed critics and loyal Trump supporters on the central bank's powerful seven-seat board.

... Dispatch continues below ...



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Great Bear Doubles Fully Funded Drill Program
from 30,000 to 60,000 Meters, Adds Third Rig

Company Announcement
Monday, April 1, 2019

VANCOUVER, British Columbia, Canada -- Great Bear Resources Ltd. (TSX-V: GBR) today reported that the company's board of directors has approved doubling of the current 30,000-metre drill program to 60,000 meters. The company remains fully funded for this expanded drilling.

Approximately 12,000 meters of the original 30,000-metre drill program remain to be drilled (see the announcement of September 20, 2018), with expected completion of the original program by July 2019. The extended program will continue through 2019.

The company also announces that it plans to add a third drill rig during the extended program. The two drill rigs currently on site will concentrate on defining and expanding the Hinge and Dixie Limb zones along strike and at depth. The third rig will explore regional targets and assist with the Hinge and Dixie Limb drilling as required. Timing of deployment of the third drill rig is subject to completion of regional target definition. ...

... For the remainder of the announcement:

https://greatbearresources.ca/great-bear-doubles-fully-funded-drill-prog...



While the nominations would be subject to Senate confirmation, they would underscore Mr. Trump's growing unhappiness with Fed policy under Jerome Powell, whom the president tapped to lead the central bank.

While it has been rare in recent decades, it isn't unprecedented for the White House to confront the Fed's leadership through the appointment process. President Reagan reappointed Fed Chairman Paul Volcker but later packed the board with governors who outvoted him in 1986 to force a rate cut. ...

Messrs. Cain and Moore both staked out positions quite critical of the Fed's easy-money policies earlier this decade -- stances that would appear to be at odds with Mr. Trump's desire for rate cuts now. Messrs.

Cain and Moore have previously advocated, for example, a return to the gold standard. The gold standard periodically compels a central bank that is losing gold reserves to raise interest rates, even if that causes consumer-price deflation and recession. But both men are strong supporters of the president and have indicated they now favor positions in sync with his call for easier policy. ...

... For the remainder of the report:

https://www.wsj.com/articles/trump-considering-herman-cain-for-position-...

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