Herman Cain says he will not drop out of Fed Board consideration

Herman Cain will not drop out of consideration for the Federal Reserve Board even though he does not appear to have enough votes to get confirmed within the Senate, he told The Wall Street Journal on Wednesday.

The former Godfather’s Pizza CEO in addition to Kansas City Fed Board president said he is usually “very committed” to the process, according to the newspaper. Trump picked Cain, a 2012 presidential candidate, for one of two vacant Fed Board seats however has not formally nominated him.

Four Republicans — enough to sink Cain within the Senate — expect not to support his confirmation to the central bank board if Trump nominates him. On Tuesday, Trump’s top economic advisor Larry Kudlow said the White House is usually “talking to many candidates” for the seat. He said of which will “probably be up to Herman Cain if he wants to stay within the process or not.”

Cain told the Journal of which Kudlow was “giving [him] an out.”

“I don’t want an out,” he said.

Critics of Cain’s potential appointment have raised concerns about him politicizing the independent board because he would certainly likely be loyal to Trump. Sexual misconduct accusations of which surfaced during the 2012 presidential elections have also sparked resistance to his possible nomination.

Cain has denied the allegations against him.

Read the full Journal story here.

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