Herman Cain's Federal Reserve Board nomination is officially dead — and before it ever actually became official.
Trump on Monday said that Cain has "asked me not to nominate him" for the Federal Reserve Board seat, with the president saying he will "respect his wishes" while praising Cain as a "great American."
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. Herman is a great American who truly loves our Country!
This comes after four Senate Republicans expressed opposition to Cain's nomination, enough to sink his chances of being confirmed. Trump hadn't actually formally nominated Cain yet, though. Some Republicans in recent weeks reportedly made a "behind-the-scenes" play to get Trump to drop Cain, who during his 2012 presidential run denied allegations of sexual harassment and previously said he wasn't sure he would make it through the "cumbersome" vetting process.
But the White House said it was up to Cain whether his nomination would proceed, even as it interviewed other candidates. Cain on April 17 told The Wall Street Journalhe would not withdraw from consideration and was "very committed" to the process. "I don’t quit because of negative criticism," Cain said. "I don’t quit because of negative attacks. And I don’t quit because several senators have expressed reservations about my qualifications." Brendan Morrow
The White House is looking at other candidates for the Federal Reserve board as Herman Cain's nomination appears to be doomed.
Director of the National Economic Council Larry Kudlow on Tuesday said that "as far as we are concerned [Cain] is still in the process" and that "we support" him, Bloomberg reports. This came after a fourth Republican senator said they opposed Cain's nomination. If these Republicans all voted against Cain and every Democrat did the same, he would not be confirmed. Whether Cain remains in the process now will be up to him, Kudlow said on Tuesday.
Kudlow also said that the White House stands behind the nomination of Stephen Moore, who has had his share of problems after a report that he owes more than $75,000 to the IRS. At the same time, Kudlow confirmed that the White House is interviewing other candidates who could replace either Cain or Moore. "We are talking to a number of candidates," he said. "We always do."
Trump has not actually formally nominated Cain to the Federal Reserve board yet, and Politico reported on Tuesday that the odds of him doing so are "low" at this point, although the president has "yet to fully move off the idea." This report added that Moore "may also not reach the Hill." Brendan Morrow