President Trump announces Jerome Powell as his nominee to become chairman of the Federal Reserve in the Rose Garden of the White House on Nov. 2, 2017. (Carlos Barria/Reuters)Last week, President Trump failed again to install a loyalist onto the Federal Reserve’s Board of Governors. But Cain and Moore had skeletons in their closets, and several Senate Republicans warned Trump not to nominate them. Lyndon Johnson leaned on Fed chair William McChesney Martin to keep interest rates low during the Vietnam War. Even with a strong economy, Trump faces stiffer headwinds than most, even from his own party.

Source: Washington Post May 06, 2019 11:37 UTC