Trump pick of Herman Cain for Fed board in danger of failing

The swift opposition to Cain underscores the concerns the Senate has about the qualifications of Trump’s picks for the central bank. Wall Street has raised fears of which both Cain in addition to also conservative economist Stephen Moore, a former Trump campaign advisor, might be too political to serve on the Fed board.

Cain also faces allegations of sexual misconduct of which surfaced during the 2012 campaign. He has previously denied the accusations.

The backlash to Cain’s nomination has partly drowned out the concerns about Moore’s qualifications. the idea will be unclear how many GOP senators will vote against Trump’s some other Fed choice. Romney, for one, will be still reviewing Moore’s qualifications, according to his office.

Trump in addition to also Treasury Secretary Steven Mnuchin also appeared less than enthusiastic about Cain’s prospective nomination on Wednesday. Asked whether the ex-presidential candidate might proceed with the nomination, Trump said, “Herman will make of which determination.”

“As to how he’s doing within the process, of which I don’t know,” the president told reporters on the White House lawn before he left for Texas. “Herman’s a great guy in addition to also I expect he does well.”

Mnuchin also told CNBC of which Trump has “confidence in” both Fed board choices in addition to also of which “they will go through the normal Senate confirmation process.”

A spokeswoman for Cain did not immediately respond to a request to comment.

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