President Trump nominates Herman Cain for Fed Board


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President Trump nominates Herman Cain for Fed Board

President Donald Trump said Thursday that he intends to nominate Herman Cain, a conservative and former presidential candidate, for a seat on the Federal Reserve Board.

Cain, a former CEO of Godfather's Pizza, ran for the 2012 Republican presidential nomination. The choice of Cain would mark the second nomination of a conservative to the Fed's main policy-making body, a panel that the president has sharply criticized in recent months as insufficiently committed to low-interest rates.

President Trump told reporters Thursday that Cain is the man, and he thinks he will do very well.

President Trump has already said he plans to nominate another conservative, Stephen Moore, for a separate vacancy on the board. The selections of Cain and Moore would require Senate confirmation, and their potential nominations could face hurdles in the Senate. Sen. John Thune, the Republican whip, said lawmakers would want to question both men.

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