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Published: Thursday, April 04, 2019 @ 6:53 PM
— President Donald Trump on Thursday said he was ready to nominate former pizza-CEO and conservative talk radio host Herman Cain to a seat on the Federal Reserve, telling reporters at the White House that Cain was a "truly outstanding individual" who would 'do very well' at the Fed.
"He's a highly respected man, he's a friend of mine," President Trump told reporters during a photo op at the White House.
"He's somebody that gets it. I hope everything goes well," Mr. Trump added. "Herman Cain is a very good guy."
The selection of Cain had been rumored for months, as the former GOP candidate for President in 2012 had met at the White House with the President earlier this year.
President Trump announces he's recommended Herman Cain for a seat on the Federal Reserve Board, describing the former pizza executive as "a terrific man, a terrific person. He's a friend of mine." https://t.co/PWzcwryZJD pic.twitter.com/le5QUeuFsj— CNN (@CNN) April 4, 2019
Already facing questions about his selection of conservative economist Stephen Moore to the Fed, the President's choice of Cain could also generate controversy in the U.S. Senate.
In the hallways of the Capitol, it was obvious on Thursday that the idea of Cain on the Federal Reserve landed with a bit of thud for some Senators.
Romney not feeling Herman Cain for Fed— Burgess Everett (@burgessev) April 4, 2019
"I doubt that will be a nomination. But if it were a nomination, you can bet [what] the interest rates he would be pushing for ... If Herman Cain were on the Fed, you'd know the interest rate would soon be 9-9-9"https://t.co/FINdVFiVky
Sherrod Brown on Herman Cain: “I guess I applaud the president that he found a nominee worse than Stephen Moore. ... Neither Moore nor Cain have the gravitas and the experience and the nonpartisanship and the sort of levelheadedness and fairmindedness to be a leader at the Fed“— Manu Raju (@mkraju) April 4, 2019
Me: "What would you think of Herman Cain on the Fed"?— Kristina L. Peterson (@kristinapet) April 4, 2019
Sen. Shelby: "It'd be interesting."
Me: "In what way?"
Sen. Shelby: "Probably in all ways."
Asked the chairman of the Senate Banking Committee, Sen. Mike Crapo, about the potential Herman Cain Fed nomination.— Colin Wilhelm (@colinwilhelm) April 4, 2019
“I hadn’t heard that, that’s a new one to me. I’d have to evaluate before I make any comment.”
Neither Cain nor Moore has been officially nominated by the President as yet. Confirmation hearings would be required before the Senate Banking Committee.
While he no longer hosts a regular talk radio program, Cain has remained active in GOP politics, recently creating a political action committee to work on behalf of President Trump.
"If you turn on the television or open your Facebook or Twitter feed you are accosted with a stream of disrespectful, dishonest and destructive news about the 45th President of the United States," says the website of American Fighting Back PAC.
"America Fighting Back (AFB) is chaired and spearheaded by Herman Cain one the most masterful communicators of our time," the site states.
"The main purpose is carry out a National Messaging & Public Relations Campaign to facilitate and grow a national grassroots movement of educated and informed voters to engage and fight for the President’s policies and freedom agenda to win in 2020," it adds.
Cain's business career has been highlighted by his work as CEO of Godfather's Pizza.
Cain also spent two years as head of the Federal Reserve bank of Kansas City.