Former presidential candidate Herman Cain has withdrawn his name from consideration for the Federal Reserve Board after Trump announced his intention to nominate Cain.
Some GOP Senators announced that they would not vote to confirm Cain which hurt his chances of being nominated.
According to CNBC:
President Donald Trump announced Monday that Herman Cain, a former pizza executive and 2012 presidential candidate, had withdrawn himself from consideration for a seat on the Federal Reserve Board.
“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!” the president wrote in a tweet.
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!
— Donald J. Trump (@realDonaldTrump) April 22, 2019
Cain’s selection had been on shaky ground practically since the day Trump announced him earlier this month. At the time, Trump told reporters, “I have recommended him highly for the Fed. I’ve told my folks, ‘That’s the man.’”
Cain is a stalwart political supporter of the president’s, and earlier this year he founded a super PAC created specifically to combat negative press coverage of Trump.
Cain has shared the same distrust and distaste for the federal reserve and the way they claim it manipulates the value of the U.S. dollar.
