President Donald Trump is expected to name 2012 GOP presidential candidate Herman Cain to the Federal Reserve, Axios is reporting. According to two anonymous senior Trump Administration officials Axios interviewed, the president will make a formal announcement after a background check is completed.
One of the officials told Axios that Trump “won’t formally announce until the vet” of Cain “is completed . . . But (Trump) likes Cain and wants to put him on there.”
Trump has lamented his decision to appoint Jerome Powell to chair the Federal Reserve, saying he deeply regrets the decision.
Cain ran against former House Speaker Newt Gingrich and others in the 2012 GOP presidential primary but ultimately lost to former Massachusetts Gov. Mitt Romney, now a U.S. senator representing Utah. Cain served in various positions in the Kansas City Federal Reserve in the 1990s and as CEO of the Godfather’s Pizza chain.