“The White House is interviewing candidates to potentially replace Herman Cain and Stephen Moore as Donald Trump’s picks for the Federal Reserve Board,” Bloomberg reports.

Wall Street Journal: “Mr. Trump has selected candidates like Messrs. Moore and Cain in recent weeks because he believes they have the interests of his presidency in mind, the person said.”

“Describing Mr. Trump’s views, the person said, ‘I want people who care about me and my presidency and economic growth…because that’s important to the health of the country and his re-election chances.’”

“I don’t really think I’ve said anything much about the gold – I’m not in favor of a gold standard.”

— Federal Reserve Board nominee Stephen Moore, interviewed on CNN, just before being shown three clips of him saying he supports a gold standard.

Herman Cain is expected to withdraw his name from consideration for the Federal Reserve’s Board of Governors, amid growing pressure from Republican senators on the White House to remove him from consideration, ABC News reports.

During Tuesday afternoon’s Senate Republican lunch, Majority Leader Mitch McConnell (R-KY) advised senators concerned about Trump’s selection of Herman Cain and Stephen Moore for seats on the Federal Reserve Board to share their views with the White House now, before Trump officially moves forward with the nominations, CNN reports.

Jonathan Chait: “A little over two and a half years ago, Stephen Moore appeared at a conservative panel on the election and the economy, where one questioner asked about monetary policy. ‘Well, you know, I’m not an expert on monetary policy,’ admitted Moore, before proceeding to deliver an answer bearing out this very confession.”

“Moore could casually admit his non-expertise in the subject because, at that moment, it was impossible for anybody in the room, least of all Moore, to imagine that one day he might be nominated for a position on the Federal Reserve Board… Yet here we are.”

Washington Post: “Actions by federal regulators and Republicans in Congress over the past two years have paved the way for banks and other financial companies to issue more than $1 trillion in risky corporate loans, sparking fears that Washington and Wall Street are repeating the mistakes made before the financial crisis. The moves undercut policies put in place by banking regulators six years ago that aimed to prevent high-risk lending from once again damaging the economy.”

“Now, regulators and even White House officials are struggling to comprehend the scope and potential dangers of the massive pool of credits, known as leveraged loans, they helped create.”

Herman Cain said he will face a “cumbersome” process as he is vetted for a seat on the Federal Reserve Board, Reuters reports.

Said Cain: “Whether or not I make it through this process – Time will tell. Would I be disappointed if I don’t make it through this process? No. Would I be thrilled and honored if I make it through this process? Yes. That’s the bottom line.”

“Stephen Moore, President Trump’s presumptive nominee for a seat on the Federal Reserve board, said on Tuesday that he had no plans to withdraw from contention for the job despite ethical and financial problems that have surfaced in recent days,” the New York Times reports.

Said Moore: “It’s full speed ahead.”