ABC: Herman Cain to Abandon Fed Reserve Nomination

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Facing a steep uphill battle in the Senate, Herman Cain is expected to withdraw from a possible post on the Federal Reserve’s Board of Governors, according to a new report.

ABC News reported Thursday evening Cain will make his decision known in the coming days.

Cain ran for president in 2012 and served as chair of the Federal Reserve Bank of Kansas City from 1995-1996. He also worked as the chairman and CEO of Godfather’s Pizza from 1986-1996. Democrats — and even some Republicans — have questioned Cain’s qualifications to serve on the Federal Reserve Board.

Earlier Thursday, a fourth Republican — Sen. Kevin Cramer, R-N.D. — said he would not vote for Cain. Without any votes from Democrats and independents, Cain’s nomination would fall short in the Senate.

Sens. Mitt Romney, R-Utah, Lisa Murkowski, R-Alaska, and Cory Gardner, R-Colo., were also opposed to Cain serving in the role.

President Donald Trump has not officially nominated Cain, but he was planning to.


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