Herman Cain is no longer a candidate for the Federal Reserve Board, according to a tweet from President Trump.
What We Know:
- The news comes after the chief executive had said he was considering the businessman, but that subsequently ran into past allegations of sexual harassment.
- Cain ran for president as a Republican in 2012, but ended his campaign abruptly after several women came forth with allegations that he sexually harassed them.
- Cain vehemently denied the allegations during that time and Trump, a friend of Cain’s, also said they reeked of an “unfair witch hunt.”
- Cain seemed to realize his Federal Reserve Board nomination was in jeopardy because of the earlier allegations. This month, Cain posted a video to Facebook implying that he likely wouldn’t be confirmed.
- Republican senators Kevin Cramer of North Dakota, Lisa Murkowski of Alaska, Mitt Romney of Utah and Cory Gardner of Colorado said they didn’t support Cain’s nomination, which was significant because if the 47 Democrats each voted against his nomination, Cain would fail to garner the needed votes for confirmation.
- The move by Cain to remove his name occurred while Trump’s most recent Federal Reserve nominee, Stephen Moore, has faced his own allegations of owing back taxes and failing to make alimony payments to his ex-wife.
Too bad Herman.