President Trump has reportedly decided to nominate Herman Cain for a seat on the Federal Reserve Board. Previous reports suggested Cain was under consideration, but sources told Bloomberg on Thursday that the president now intends to move forward with the nomination.
Cain, the former CEO of the Godfather's Pizza chain, ran for president in 2012 and last year co-founded a pro-Trump super-PAC. He previously directed the Federal Reserve Bank of Kansas City, and has supported higher interest rates, which Trump has criticized as damaging to the economy.
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