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Maybe you know Herman Cain as the ex-CEO of the Godfather's Pizza chain. Or maybe you remember him from that iconic 2012 presidential campaign ad in which he barely appeared.
Whatever it is, Cain is back. President Trump is reportedly considering the Tea Partier for a spot on the Federal Reserve Board, five sources tell Bloomberg's Jennifer Jacobs. And with economic adviser Larry Kudlow mentioning the Fed's two vacant spots to reporters last week, there's a chance he could be nominated soon.
Cain led the pizza chain, wrote some books, and chaired the Federal Reserve Board of Kansas City before launching a Republican presidential bid in 2012. But just as he became a serious contender, five allegations of sexual harassment forced him to step down. Two of those women said they received a settlement from the National Restaurant Association, which Cain then led as president. Cain initially denied the settlements but later acknowledged them, still denying the harassment.
That situation could again derail the possibility of Cain joining the Fed's board, where two of the seven spots are currently empty. Cain would have to face a Senate confirmation hearing to secure the spot, where his sexual harassment allegations would certainly come up, Bloomberg notes. Cain could also be headed for another top government spot, seeing as he has supported Trump since the early days of his candidacy. Trump is reportedly meeting with several candidates for the Fed spot, per CNBC.
No word on if he'd push for a nine percent interest rate if he landed a Fed spot.