Cain, Moore nominations for Federal Reserve seats on track: Kudlow

Top White House officials on Sunday defended President Donald Trump`s plan to name two political loyalists to the Federal Reserve board of governors, brushing aside controversies over their personal lives and qualifications to help run the world`s most powerful central bank.

White House economic adviser Larry Kudlow and acting White House Chief of Staff Mick Mulvaney used appearances on Sunday morning talk shows to defend Trump`s plan to nominate economic commentator Stephen Moore and businessman and former presidential candidate Herman Cain to fill open board seats at the Fed.

"The president stands behind both of those gentlemen right now," Kudlow said on CNN`s "State of the Union."

"We have two open seats. The president has every right in the world to nominate people who share his economic philosophy."

Neither man has been formally nominated yet, and have still to undergo background checks. Critics have pointed to issues like Cain`s withdrawal from the 2012 presidential race following reports on allegations of sexual harassment -- allegations Cain has denied.

Asked about those allegations, Kudlow said, "we are going through a vetting process ... Whether it is Supreme Court justices or many other things we have seen many charges here. They don`t necessarily pan out."

"I think Herman would be a great member of the Fed," Mulvaney said on "Fox News Sunday."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)