President Donald Trump says Herman Cain has withdrawn from consideration for a seat on the Federal Reserve's board amid a focus on past scandals.
Cain is a former CEO of Godfather's Pizza who dropped out of the 2012 presidential race amid allegations of sexual harassment and infidelity. The issues resurfaced after Trump said he intended to nominate Cain to the central bank's board of governors.
Trump tweeted Monday that "My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes."
The president added that "Herman is a great American who truly loves our Country!"
Trump has also nominated conservative ally Stephen Moore for a separate vacancy on the Fed's seven-member board.
My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes. Herman is a great American who truly loves our Country!
— Donald J. Trump (@realDonaldTrump) April 22, 2019
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President Donald Trump says he's recommended Herman Cain, a political ally and former presidential candidate, for a seat on the Federal Reserve board.
Trump tells reporters that "I've told my folks that's the man."
He adds, "I think he would do very well there."
Cain, a former CEO of Godfather's Pizza, ran for the 2012 Republican presidential nomination but dropped out after allegations of sexual harassment and infidelity.
The president has already said he plans to nominate another conservative ally, Stephen Moore, for a separate vacancy on the board. Moore's nomination has encountered criticism that he is unqualified and too politically focused for a Fed board seat.
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