Trump Considering Herman Cain, Former Pizza Executive, for Fed Board
WASHINGTON — President Trump is considering nominating Herman Cain, who abandoned his 2012 presidential bid in the face of escalating accusations of sexual misconduct, for a seat on the Federal Reserve Board, according to two people familiar with the matter.
Mr. Trump has been considering tapping Mr. Cain, the former chief executive of Godfather’s Pizza, for several weeks but is waiting for a federal background check before officially nominating him to the Fed, one of these people said.
The decision to consider Mr. Cain signals the second time in weeks that Mr. Trump has floated candidates with deeply-held political views to fill a seat on the Fed, which is a traditionally independent body. Mr. Trump also plans to nominate Stephen Moore, a conservative economist and longtime economic adviser, as a Fed governor.
Mr. Moore’s potential nomination has been clouded by revelations of ethical and financial issues that surfaced in recent weeks, including a 2013 contempt of court charge stemming from failure to pay child support to his former wife. The White House has said it remains committed to nominating Mr. Moore, who is currently undergoing a background check.
Mr. Cain’s nomination is being supported by Larry Kudlow, who heads the National Economic Council and also recommended Mr. Moore for a Fed seat, according to a person familiar with the discussions.
It is unclear whether Mr. Cain will clear the background check. His presidential campaign came to a screeching halt after several women came forward with accusations of sexual harassment.
A Chicago woman said that Mr. Cain made an unwanted and rough physical advance on her when he was the chief of the National Restaurant Association, a lobbying group. Within days, a second woman who worked in the government affairs office of the restaurant association came forward with her own claims.
Mr. Cain has long proclaimed his innocence and sought to cast blame for what he called a smear campaign on political rivals and the news media.