President Trump said Monday he would be removing former pizza executive Herman Cain from consideration for the Federal Reserve’s Board of Governors, per Mr. Cain’s request.
“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,” Mr. Trump tweeted.
While Mr. Cain was never officially nominated to fill one of two seats on the seven-member board, Mr. Trump announced him as his pick earlier this month.
Reports surfaced Mr. Cain would withdraw his candidacy for the board following lackluster support from the GOP.
Four Republican senators — Kevin Cramer of North Dakota, Lisa Murkowski of Alaska, Cory Gardner of Colorado and Mitt Romney of Utah — all said they would vote no for Mr. Cain, giving Democrats a potential majority to block his nomination.
Mr. Trump also announced his second pick would be conservative economist and author Stephen Moore. Mr. Moore is a columnist for The Washington Times.
Mr. Cain, the former CEO of Godfather Pizza, ran for the GOP presidential nomination in 2012 on his “9-9-9” tax plan that would eliminate tax laws in favor of a 9 percent tax on sales, individual income and corporate income.