News

Herman Cain withdraws from consideration for Federal Reserve board

nearvideo-Herman Cain: Sexual harassment claims against me are recycled slander

Herman Cain responds to sexual harassment allegations in the Wake of its possible Federal Reserve board nomination.

Herman Cain is out of the race for a seat on the Federal Reserve board.

To be in the midst of renewed focus on the sexual harassment allegations and the loss of key GOP support for Cain, President of Trump tweeted on Monday that he’s asked not to be nominated.

CAIN HITS BACK AT CRITICS

“My friend Herman Cain, a really wonderful man who has asked me not to nominate him for a seat on the Federal Reserve Board. I respect his wishes. Herman is a great American who truly loves our country!” Trump said.

Cain, the former CEO of Godfather’s Pizza and 2012 Republican presidential candidate, said a few days ago on Fox Business Network that he has no plans to withdraw from consideration. He said that some GOP senators to the expression of reservations about him, “have never even met me … and I doubt whether you know nothing about my background.”

But the loss of GOP support is all, but be doomed would be bid. North Dakota Republican Sen. Kevin Cramer came at the beginning of this month, GOP Sens. Lisa Murkowski, Cory Gardner, and Mitt Romney against Cain for the seat.

CAIN BID FOR THE FED FACES SETBACK

Trump, the nomination of the conservative allies of Stephen Moore for a separate vacancy on the Fed’s seven-member board. Republicans and Democrats, in turn, raised the question of whether the height of two men, two political allies of Trump, would concerns about the political independence of the Fed. And the allegations of sexual harassment and infidelity, hurt Cain’s 2012 bid appeared to him to Trump first, he said, to designate determines, Cain for the Fed board.

Since last fall, Trump has repeatedly criticized his hand-picked Chairman, Jerome Powell and other Fed officials to raise interest rates four times in the last year. These increases in interest rates hurt the stock market and redundant were told, because there was no inflationary threat, Trump.

Fox News, Gregg Re, and The Associated Press contributed to this report.

Recent posts

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular