Herman Cain unable: Donald Trump stumbles in bid to reshape Fed
- Herman Cain withdraws his candidacy for an empty seat on the US Federal Reserve board
- Economists and critics expressed concerns about loyalists of Trump serving on the traditionally non-partisan central bank
US President Donald Trump’s efforts to reshape the Federal Reserve stumbled on Monday, with one of his potential nominees for the Fed’s board withdrawing from consideration and another being enveloped by fresh doubts.
Herman Cain, a former CEO of Godfather’s Pizza, asked to be taken out of the running for an influential post at the US central bank, Trump tweeted.
Cain had dropped out of the 2012 presidential race after facing allegations of sexual harassment and infidelity – issues that resurfaced after Trump said earlier this month that he planned to nominate Cain for the Fed.
Trump tweeted 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.”
Separately, CNN on Monday unearthed opinion columns that Trump’s other pick for a Fed board vacancy, conservative commentator Stephen Moore, wrote in the early 2000s.
Among the opinions Moore asserted in those columns was that women should be barred from refereeing, announcing or even selling beer at men’s college basketball games. Those writings appeared on the conservative National Review website.