Name of Next Fed Pick Will Likely Ring a Bell

President will reportedly nominate Herman Cain, former presidential candidate
By Newser Editors,  Newser Staff
Posted Apr 4, 2019 1:48 PM CDT
New Fed Pick May Be a Familiar Name
Herman Cain speaks in Washington in 2014.   (AP Photo/Molly Riley)

President Trump is apparently intent on putting another friendly face on the Fed. Both Bloomberg and Axios report that Trump will pick Herman Cain, the former CEO of Godfather's Pizza who ran for president in 2012. Axios says Trump is holding off on announcing the move until a background check comes up clean. (Cain supporters will remember that he pulled out of the 2012 race after allegations of sexual impropriety surfaced.) Trump has two spots to fill on the Federal Reserve board, and he's previously settled on conservative Stephen Moore for the other. Bloomberg sees both Moore and Cain as "political loyalists" in regard to Trump, who frequently criticizes current Fed chief Jerome Powell. (More Herman Cain stories.)

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