Facing GOP resistance, Herman Cain will reportedly withdraw his name from President Trump’s short list of candidates for the Federal Reserve’s Board of Governors.
The former Godfather Pizza executive and 2012 Republican presidential candidate was Trump’s top pick for the job.
However, four GOP senators — Kevin Cramer (N.D.), Lisa Murkowski (Alaska), Cory Gardner (Colo.) and Mitt Romney (Utah) — have indicated they would vote against him.
Cain was expected to cut interest rates — a goal that likely played a role in Trump’s endorsement but may also have been the main factor driving Republican opposition.
Cain previously stirred controversy within the GOP with his “9-9-9” flat tax plan that many Republicans opposed as “regressive.”
Trump’s second choice for the Fed post is economist Stephen Moore, who writes for The Washington Times.
Read the full story here.