Cain's spot on Fed in jeopardy: Bloomberg

Apr. 10, 2019 3:51 PM ETBy: Liz Kiesche, SA News Editor4 Comments
  • At least three GOP senators say they won't support President Donald Trump's pick of Herman Cain for the Federal Reserve Board, putting his prospective nomination at risk even before it's officially submitted, Bloomberg reports.
  • Senators Mitt Romney, Lisa Murkowski, and Cory Gardner say they would vote against a Cain nomination. If a fourth Republican senator opposes Cain, he wouldn't have enough votes to be confirmed, assuming all Democrats vote against him.
  • "I don't think Herman Cain would be confirmed by the Senate, and I think the president would be wise to nominate someone who is less partisan and more experienced in the world of economics," Utah Senator Romney said.
  • Trump, who hasn't formally sent the nomination paperwork for Cain to the Senate yet, told reporters that it's up to Cain as to whether he can win the Senate confirmation.
  • Cain was chairman and CEO of Godfather's Pizza from 1986 to 1996. He was deputy chairman of the Federal Reserve Bank of Kansas City from 1992 to 1994, then chairman until 1996.
  • Previously: Moore again calls for reversal of December rate hike (April 10)
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