Herman Cain withdraws name from consideration for Fed board, according to Donald Trump

Herman Cain withdraws name from consideration for Fed board, according to Donald Trump
Gage Skidmore

President Donald Trump has just announced that his "friend," Herman Cain, has asked to not be nominated to the Federal Reserve's Board of Governors.

Trump had stated he would be making the nomination, even in the face of Republicans hostile to the choice of the former Godfather's Pizza CEO who was forced to pull out of the 2012 GOP presidential race after being credibly accused by five women of sexual misconduct.

Cain was roundly mocked during the presidential race for his "9-9-9" tax "plan," which was essentially just a marketing gimmick.

The sexual misconduct allegations coupled with the facts he is not an economist nor has demonstrated any particular economic expertise that would make him an appropriate choice for the Fed clearly became too much, even for Trump to weather.

Still in the mix is Stephen Moore, who also is not an economist and reportedly owes about $75,000 in taxes. Moore, too, is considered toxic, but Trump is standing by him.

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

DonateDonate by credit card


Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.