Herman Cain Could Be Trump’s Pick For Federal Reserve Board, Per ‘Bloomberg’
Donald Trump is reportedly considering former Godfather’s Pizza CEO — and presidential hopeful — Herman Cain for a position on the Federal Reserve Board. The 73-year-old was at the White House on Wednesday, according to several sources who spoke anonymously to Bloomberg.
Currently, there are two vacancies on the central bank board, and the sources say that the president has been meeting with multiple different candidates to fill the empty seats. Trump’s top economic adviser, Larry Kudlow, explained last week that the White House is looking for individuals “who understand that you can have strong economic growth without higher inflation.”
One of those candidates is Cain, who served as the former director and chairman of the Federal Reserve Bank of Kansas City from 1989 to 1996. At that point, he left his position to pursue his political ambitions, including the 2012 run for president that turned him into a household name.
Cain dropped out of the race in 2011 after sexual misconduct allegations by two separate women — during his role as leader of the National Restaurant Association in the 1990s — came to light. Cain denied the allegations, but admitted to making “mistakes in my life.”
The Godfather’s Pizza exec was leading in several polls before he was forced to withdraw, thanks to his catchy proposals — like a “9-9-9” tax plan that would simplify the United States tax code to flat 9 percent takes on business, income, and sales.
He also trademarked the phrase “The Hermanator Experience,” and often spoke about himself on the campaign trail in the third person. He is a staunch conservative who has spoken out against legal abortion and affirmative action. He has also stated that he supports traditional marriage.
This is monstrous! How did we come to this? https://t.co/GveRI6bndC
— The Cain Gang (@THEHermanCain) January 31, 2019
Jack Kemp, who ran for vice president in 1996, called Cain, “a black guy who stands up with the voice of Othello, the looks of a football player, the English of Oxfordian quality and the courage of a lion.”
Cain is a known “inflation hawk,” and has advocated for a return to the gold standard.
“A gold standard is to the moochers and looters in government what sunlight and garlic are to vampires,” he wrote in the Wall Street Journal.
So far, Trump has appointed two nominees to the empty seats — including Nellie Liang and Marvin Goodfriend — but both expired without Senate approval.
Trump has been critical of the Fed recently, as interest rates have climbed. He said that he plans to put someone in place that will pursue his economic vision.
Critics are not convinced that Cain’s nomination would be a net positive for the economy.
Based on my experience someone as unqualified as Herman Cain would be completely lost as a Governor of Fed as he would not understand any of the discussions – staff would bamboozle him with science -he would end up just having to obey leadership or vote on his own & be irrelevant
— Professor Danny Blanchflower economist & fisherman (@D_Blanchflower) January 31, 2019
