Republican presidential candidate Herman Cain speaks to the media outside of Trump Towers before a scheduled appearance with real estate mogul Donald Trump on October 3, 2011 in New York City.
Spencer Platt/Getty Images
Republican presidential candidate Herman Cain speaks to the media outside of Trump Towers before a scheduled appearance with real estate mogul Donald Trump on October 3, 2011 in New York City.
Now playing
02:49
Trump stands by controversial Fed pick Herman Cain
Joe Manchin
CNN
Joe Manchin
Now playing
02:03
'I never thought in my life ...' Why Manchin won't walk away from bipartisanship
Gaetz speaks to members of the media outside the hearing Michael Cohen, former attorney and fixer for President Donald Trump, testifies at before the House Committee on Oversight and Reform at Rayburn House Office Building February 27, 2019 on Capitol Hill in Washington, DC. Last year Cohen was sentenced to three years in prison and ordered to pay a $50,000 fine for tax evasion, making false statements to a financial institution, unlawful excessive campaign contributions and lying to Congress as part of special counsel Robert Mueller's investigation into Russian meddling in the 2016 presidential elections.
Alex Wong/Getty Images
Gaetz speaks to members of the media outside the hearing Michael Cohen, former attorney and fixer for President Donald Trump, testifies at before the House Committee on Oversight and Reform at Rayburn House Office Building February 27, 2019 on Capitol Hill in Washington, DC. Last year Cohen was sentenced to three years in prison and ordered to pay a $50,000 fine for tax evasion, making false statements to a financial institution, unlawful excessive campaign contributions and lying to Congress as part of special counsel Robert Mueller's investigation into Russian meddling in the 2016 presidential elections.
Now playing
06:11
'Bombastic, antagonistic, unapologetic': A look at Gaetz's political career
Former House Speaker John Boehner attends a ceremony to unveil a portrait of himself on Capitol Hill, Tuesday, Nov. 19, 2019 in Washington.
Michael A. McCoy/AP
Former House Speaker John Boehner attends a ceremony to unveil a portrait of himself on Capitol Hill, Tuesday, Nov. 19, 2019 in Washington.
Now playing
02:42
Boehner says Republican colleague held 10-inch knife to his throat outside House floor
President Joe Biden, accompanied by Vice President Kamala Harris, and Attorney General Merrick Garland, speaks about gun violence prevention in the Rose Garden at the White House, Thursday, April 8, 2021, in Washington.
Andrew Harnik/AP
President Joe Biden, accompanied by Vice President Kamala Harris, and Attorney General Merrick Garland, speaks about gun violence prevention in the Rose Garden at the White House, Thursday, April 8, 2021, in Washington.
Now playing
02:05
Biden calls for ban on assault weapons
CNN
Now playing
02:22
Biden: High-speed internet is infrastructure
AFP/Getty Images
Now playing
03:24
Donald Trump breaks his silence on Matt Gaetz
CNN/WLOX
Now playing
01:43
'He says the quiet part out loud': Borger reacts to GOP election official's remark
AFP/Getty Images
Now playing
02:30
Haberman: Trump had to be talked out of defending Matt Gaetz
CNN
Now playing
03:26
Georgia's Lt. governor says elections law was a result of Trump's misinformation
Now playing
02:38
GOP lawmakers can't give examples of why states need anti-transgender sports bills
CNN
Now playing
03:04
Avlon reacts to McConnell's advice to corporations
WASHINGTON, DC - APRIL 06:  U.S. President Joe Biden delivers remarks on the state of vaccinations in the U.S. in the State Dining Room of the White House April 6, 2021 in Washington, DC. President Biden announced that states should make all adults eligible for COVID-19 vaccine by April 19.  (Photo by Alex Wong/Getty Images)
Alex Wong/Getty Images North America/Getty Images
WASHINGTON, DC - APRIL 06: U.S. President Joe Biden delivers remarks on the state of vaccinations in the U.S. in the State Dining Room of the White House April 6, 2021 in Washington, DC. President Biden announced that states should make all adults eligible for COVID-19 vaccine by April 19. (Photo by Alex Wong/Getty Images)
Now playing
01:12
'Smarten up': Biden admonishes states' restrictive voting laws
WAVE
Now playing
01:27
'It's stupid': McConnell's warning for corporate America
reality check thumb
reality check thumb
Now playing
02:48
John Avlon breaks down fraud claims among Trump donors
Now playing
06:22
Key figure in Gaetz extortion claims responds
(CNN) —  

House Speaker Nancy Pelosi on Thursday lambasted President Donald Trump’s latest Federal Reserve picks, saying Herman Cain and Stephen Moore are “ill-suited,” “unqualified,” and the “worst” appointments the President could make.

Speaking to reporters at the House Democratic retreat – where Federal Reserve Chairman Jerome Powell is set to speak Thursday night – Pelosi argued the President’s choices for the world’s most powerful central bank were the latest example of the Trump administration “treading on thin ice” and trying to dismantle the government.

“With stiff competition, these two appointments to the Fed are the worst, ill-suited appointments that the President could come up with,” Pelosi said.

Vice President Mike Pence said on CNBC Thursday that the White House is in the “very early” stages of the process and defended the President’s two choices. Pence said they both “really understand what the president’s philosophy is in this economy.”

Pelosi, appearing to weigh in on the vice president’s comments, questioned whether that meant Cain and Moore would act on behalf of Trump.

“If in fact the vice president is saying they share his view, does that mean meddling in the decisions of the Fed?”

She continued to argue the Federal Reserve would struggle to maintain political independence.

“Doesn’t mean that people don’t bring their philosophies to the table, but we have two people totally ill-suited, unqualified for the position because they may just go in and say the President wants an increase in rates so we’re here to do that,” Pelosi said.

The President has repeatedly opposed potential rate increases. In 2018, the Fed under Powell raised rates four times, all unanimous decisions. In January, it decided to pause raising rates, though Powell denied that decision had anything to do with Trump.

“Thank God Chairman Powell is there,” Pelosi added. “But for him to have to deal with a politically motivated Fed…there’s so many bridges too far here, but this is a really dangerous one.”

The speaker argued the Democrats’ invitation for Powell to speak was not political and she expressed no concerns about the image of having the chairman – who Trump has repeatedly attacked – speak before her caucus.

Pelosi urged Republicans to invite Powell to speak to them, as well.

“If there’s anything that should be totally devoid of any partisan influence, it’s the Fed,” she said. “I would hope that the Republicans would invite him.”

A top White House economic adviser told CNN’s Poppy Harlow on Thursday that it’s important for the Federal Reserve to be politically independent. Kevin Hassett, chairman of the White House Council of Economic Advisers, said it was his job to remind people to respect that independence.

“That doesn’t mean you can’t express an opinion but it does mean I should not be giving (the Fed) advice,” he said on CNN. “We’ve employed great independent people over there. The President disagrees with them on interest rates but that’s for them to discuss.”

Larry Kudlow, director of the National Economic Council said Thursday the administration is standing behind Cain “at the moment,” adding that Cain is currently in the vetting process and alluded to allegations against Cain involving sexual harassment, which Cain has denied.

“This town is full of allegations, sometimes they’re true, sometimes they’re completely untrue as we’ve seen,” Kudlow said The Hill’s Newsmaker series in Washington DC. “I want to give him – Herman – a decent change to go through that process.”

CNN’s Donna Borak and Kate Trafecante contributed to this report.