Herman Cain Withdraws From Consideration For Federal Reserve Board

When it comes to Herman Cain's nomination to the Federal Reserve Board, the answer is officially Nein, Nein, Nein!

After several weeks of controversy, President Trump announced this morning that he was abandoning plans to name former Republican candidate for President and Godfather’s Pizza CEO Herman Cain to a position on the Federal Reserve Board, bringing an end to a nomination that even many Republican Senators were skeptical about:

WASHINGTON — President Trump said on Monday that Herman Cain, a former pizza company executive and conservative presidential candidate, has withdrawn from consideration to be nominated to the Federal Reserve Board.

“My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board,” Mr. Trump said in a post on Twitter.

The president said earlier this month that he planned to nominate Mr. Cain, but the selection stoked bipartisan controversy over Mr. Cain’s qualifications for the post and the allegations of sexual harassment that derailed his 2012 bid for the Republican White House nomination.

Here’s the President’s tweet on the issue:

Trump’s decision to name Cain to the post has been a point of controversy ever since it was announced earlier this month and, to the surprise of many. it quickly became a controversial one even among Republican members of the Senate given Cain’s apparent lack of qualifications for the position. Within a short period of time, four Republican Senators came out on the record against the nomination. Absent cross-over voting from Democrats in support of Cain, which seemed unlikely, this would have meant that his nomination would have failed had it gone to the Senate floor.

In reality, the withdrawal of Cain’s nomination is not surprising. Last week it was reported that the Trump Administration was looking for replacement candidates for the open Federal Reserve Board seats in the light of controversies over both Cain’s nomination and the nomination of conservative pundit and economist Stephen Moore. In Moore’s case, the arguments against his candidacy include a litany of reasons that argue against Moore’s nomination that Steven Taylor makes note of in a recent blog post, as well as problems with the Internal Revenue Service related to payments to his ex-wife which he contends were for child support. Notwithstanding that, Moore’s nomination seems more secure than Cain’s was, at least for the moment.

In the case of Herman Cain, though, I suppose you could say that his nomination received the response of Nein, Nein, Nein.

FILED UNDER: Congress, Donald Trump, Economics and Business, Politicians, US Politics, ,
Doug Mataconis
About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010. Before joining OTB, he wrote at Below The BeltwayThe Liberty Papers, and United Liberty Follow Doug on Twitter | Facebook

Comments

  1. Teve says:

    And Stephen Moore is getting some criticism for writing a few years ago that women’s basketball sucks, women mostly aren’t too good at basketball, women shouldn’t be allowed to be referees or announcers for basketball, unless they’re very pretty, in which case they should have to wear revealing clothes.

  2. @Teve:

    Well to be honest, while women’s basketball at the college level can be fun to watch the WNBA would not exist if it were not being heavily subsidized by the NBA itself. The teams simply aren’t making enough money to support themselves.

  3. Kathy says:

    I’m surprised at any outbreak of sanity in the Cheeto administration, when the opposite of sanity is the normal situation.

    For example, Dennison’s team just announced they’ve arranged for oil prices to go up.

  4. Teve says:

    @Doug Mataconis: that is true, and it wouldn’t be a story if he said what you said.

  5. @Teve:

    This is a fair point.

  6. de stijl says:

    Harriet Miers is probably free. She’s tanned, rested, and ready.

  7. Tyrell says:

    I am working on some more research on the Federal Reserve. Comment later.

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