NBC’s Harwood: Even Though Herman Cain Chaired a Federal Reserve Regional Bank, This Is a ‘Reality Show’ Appointment

EXCERPT:

HARWOOD: “It’s a reality show kind of appointment. Herman Cain is not somebody who has the kind of background even though he chaired the Kansas City branch of the Federal Reserve. Those regional bank chairs do not do all that much. They provide some intelligence to the Fed in terms of what's going on in their regional economies, but this is not in the mold of Jerome Powell or Randy Quarles or Richard Clarida, very serious people with serious expertise, either economic expertise or governmental expertise, at the Treasury Department. That kind of thing that you expect in Federal Reserve appointments. I have serious questions as to whether Herman Cain could get approved by the Senate, just as I do about Steven Moore. We’ve seen a lot of stuff come out about Steven Moore, taxes and issues related to child support. Herman Cain has been the subject and was during his presidential campaign, in fact ended up curtailing his presidential campaign, the subject of allegations of sexual assault and other types of misconduct. So it doesn’t surprise me that the President would want to put forward a name like this, or float a name like this. I'd be surprised if he ends up on the Federal Reserve board.”