Trump: Better Fed policies would give economy 'rocket' boost

WASHINGTON (AP) — President Donald Trump said Tuesday the economy would "go up like a rocket" with better policies from the Federal Reserve while the close political ally he hopes to put on its board faced more questions about his candidacy from female GOP senators based on his past writing about women.

In a tweet, the president said that the economy, while doing well, would do even better if the Fed started cutting rates and provided "some quantitative easing," referring to the process the Fed used following the financial crisis to purchase bonds to lower long-term interest rates.

Trump contrasted the Fed's current moves with China, which he said was adding "great stimulus" to its economy. The president has been harshly critical of Fed Chairman Jerome Powell and the Fed's credit tightening, including a string of four rate hikes last year.

To counter what Trump saw as wrong-headed policies, the president said he would nominate two close political allies to the Fed's seven-member board.

Former 2012 GOP presidential candidate Herman Cain has withdrawn from consideration. But Trump's other choice, conservative commentator Stephen Moore, has gone on a talk-show blitz to try to save his candidacy following disclosures of incendiary comments he has made in the past about women.

Moore has said the comments were inappropriate efforts to make jokes, but more female GOP senators expressed their concerns on Tuesday.

Asked about Moore's prospects, Senate Majority Leader Mitch McConnell, R-Ky., noted that the White House has not yet nominated Moore. If he is nominated, McConnell said, "We'll cross that bridge when we come to it."

Sen. Shelley Moore Capito, R-W.Va., said that "it's hard to look past" Moore's previous statements, while Sen. Marsha Blackburn, R-Tenn., said his...