Trump considering Herman Cain for Fed board seat, official says

FILE PHOTO: Federal Reserve building pictured in Washington
FILE PHOTO: The Federal Reserve building pictured in Washington, U.S., July 16, 2018. REUTERS/Leah Millis/File Photo

January 31, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump is considering former pizza chain executive and presidential candidate Herman Cain for a seat on the Federal Reserve Board, a senior administration official said on Thursday.

Cain met with Trump at the White House on Wednesday, the official said. A decision on the nomination, which would need Senate approval, is not final.

Neither the White House nor a spokesman for Cain immediately responded to requests for comment.

There are currently two vacancies on the seven-member Fed board.

The news was first reported by Bloomberg.

Cain made his fortune as chief executive of Godfather’s Pizza before making a bid to be the Republican candidate in the 2012 presidential election.

He led the polls for a while in the Republican primary, buoyed by his signature 9-9-9 tax proposal, which would have levied a flat 9 percent corporate, income and sales tax.

But his popularity slipped amid sexual harassment allegations from several women, which he denied. Ultimately, Mitt Romney, now a Utah senator, won that nomination, but lost the election to former President Barack Obama.

(Reporting by Steve Holland and Makini Brice; Editing by Chizu Nomiyama and Dan Burns)

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